Tegeta Exploration & Resources (Pty) Ltd., the South African company owned by the Gupta family and a venture fund in which President Jacob Zuma’s son in an investor, has won three contracts to supply coal to Eskom Holdings SOC Ltd., City Press reported, without saying where it got the information.
As a result of buying the Optimum coal complex from Eskom, Tegeta has a contract to supply the utility’s Hendrina power plant with 5.5 million metric tons of coal at 150 rand ($9.49) a ton until 2018, City Press said. It also has a short term contract to sell 50,000 tons of coal a month to the Arnot plant at 406 rand a ton, the Johannesburg-based newspaper said.
It has another short-term contract to sell 166,000 tons of coal a month to the Komati power plant at an undisclosed price, City Press reported.
Tegeta plans to sell its Brakfontein colliery, City Press said, citing a circular sent to shareholders.