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Glencore held gun to our head - Eskom CEO

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Johannesburg - Eskom CEO Brian Molefe said he felt as if there was “a gun to our head” in negotiations with Glencore over a coal supply contract that the Swiss mining and trading company said it couldn’t honor because the price was too low.

READ:   Eskom can't afford exorbitant coal - Molefe

Glencore last year placed its Optimum coal unit in business rescue proceedings, a form of bankruptcy, after Eskom fined it under the terms of a contract it had to supply the Hendrina power plant and refused to negotiate over a price of R150 per metric ton specified in a contract that runs until 2018.

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