Gupta-owned Tegeta has made up to R4-billion over the past two years from coal exports — while failing to meet its domestic delivery commitments to Eskom.
Optimum, Tegeta’s largest mine, was supposed to supply 10-million tons of coal to Hendrina power station in Mpumalanga between June 2016 and January this year, at a price of R150 a ton. Instead, it supplied only 6.5-million tons, but exported more than 4-million at an average price of R1,075 a ton.
Severe coal shortages at Eskom have raised fears of renewed load-shedding, with Hendrina named late last year as one of three power stations suffering critical shortages.
Optimum has met its delivery targets to Hendrina only four months out of 20. Eskom needed emergency procurement approval from the Treasury to ensure that the Hendrina, Komati and Kriel power stations would not run out of coal this month, and to avoid two others running out of fuel next month and in October.
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