Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Former South Africa mines minister says Eskom tried to influence him

Published 16/05/2017, 08:23
© Reuters.  Former South Africa mines minister says Eskom tried to influence him
GLEN
-

JOHANNESBURG (Reuters) - Former South African mines minister Ngoako Ramatlhodi said on Tuesday, without giving evidence, that power utility Eskom's CEO and chairman asked him in 2015 to suspend Glencore 's mining licences to put pressure on the commodities firm to sell a coal mine.

Khulani Qoma, a spokesman for Eskom board's, denied the allegation, saying it was "devoid of logic".

Glencore (LON:GLEN) in 2015 placed its Optimum coal mine under protection from creditors and later sold it to South Africa's Tegeta Exploration and Resources, a firm controlled by the Gupta brothers, who deny allegations they wield excessive influence over President Jacob Zuma.

"They (Eskom's CEO and chairman) insisted that I must suspend all the Glencore mining licences," Ramatlhodi told local media, adding he declined to give in to the pressure.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.