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Optimum Coal discharged from business rescue

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(File, iStock)
(File, iStock)

Johannesburg - Troubled coal producer Optimum Coal Mine has been released from "business rescue", its business rescue practitioners said on Wednesday.

In April, Oakbay Investments concluded a R2.1bn ($145m) deal to buy Optimum from Glencore in a transaction criticised by local media.

Oakbay is owned by the wealthy Gupta family, who are accused of undue political influence with President Jacob Zuma.

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