Eskom wants R2 billion from Glencore over shoddy coal
11 August 2015 - 13:25
South Africa's power utility Eskom is seeking a 2 billion rand penalty from Glencore's Optimum Coal Mine because of the poor quality of their coal and its "shoddy performance", its chief executive said on Tuesday. "The quality of the coal that we get from the mines we are tied to has not been good," Brian Molefe said at a briefing on the company's annual results.Glencore was not immediately available to comment.Eskom also plans to borrow more than 20 billion rand from the domestic market and international bonds, its chief executive said.Molefe also said at a presentation of the company's annual results that Eskom had managed to raise 49.5 billion rand in external funds, easing liquidity pressures...
There’s never been a more important time to support independent media.
From World War 1 to present-day cosmopolitan South Africa and beyond, the Sunday Times has been a pillar in covering the stories that matter to you.
For just R80 you can become a premium member (digital access) and support a publication that has played an important political and social role in South Africa for over a century of Sundays. You can cancel anytime.
Already subscribed? Sign in below.
Questions or problems? Email helpdesk@timeslive.co.za or call 0860 52 52 00.