The decision taken by Eskom’s erstwhile chief executive Brian Molefe to give Optimum coal mine the cold shoulder in 2015 jeopardised the coal supply to the ailing utility’s Hendrina power station, the Zondo commission of inquiry into state capture heard on Friday.
At the time, Eskom was concerned about securing the coal from Optimum and was looking to guarantee the supply until the end of the mine’s lifespan. But this was subject to negotiations with Optimum, which wanted to redraft the specifications for its coal supply agreement with Eskom.Eskom was also considering writing off the certain penalties levied against the mine for poor-quality coal.
In June 2015, Molefe wrote to Optimum stating that Eskom had terminated the settlement process. Molefe insisted the company continue to supply coal even though it had invoked a hardship clause because the coal price it was getting was no longer economically viable. As a result, Optimum was forced into business rescue, making it easy pickings for its acquisition by Gupta-linked Tegeta in 2016.
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