for subscribers

Eskom hits back at Gupta-owned Optimum coal theories

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
(iStock)
(iStock)

Cape Town – Eskom said on Sunday that it will not increase the price it pays for Gupta-owned Optimum's coal in order to promote black economic empowerment.

Eskom spokesperson Khulu Phasiwe was commenting on a Netwerk24 story on Sunday that tried to unpack why the Guptas – through Oakbay Investments and Tegeta Exploration and Resources - would want to buy an unprofitable coal mine, steeped in debt and fines owed to Eskom.

READ: How Guptas, Duduzane Zuma could score from coal deal

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
16.33
(-0.06)
ZAR/GBP
21.08
(-0.04)
ZAR/EUR
19.33
(-0.03)
ZAR/AUD
11.90
(-0.03)
ZAR/JPY
0.16
(-1.15)
Gold
1949.72
(+0.03)
Silver
26.74
(+0.09)
Platinum
928.80
(+0.44)
Brent Crude
43.52
(-0.32)
Palladium
2356.01
(+0.63)
All Share
54673.65
(-0.66)
Top 40
50399.16
(-0.59)
Financial 15
9841.32
(-2.14)
Industrial 25
72558.00
(-1.08)
Resource 10
55438.10
(+0.58)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 1301 votes
It depends on how the funds are used.
73% - 8626 votes
No. We should have gotten the loan elsewhere.
16% - 1899 votes
Vote