Gupta-Zuma Company to Hold Three Eskom Coal-Supply Contracts
- Tegeta waiting on completion of Optimum purchase from Glencore
- Optimum to continue Hendrina-plant supplies until 2018
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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 is an investor, will hold at least three supply contracts with the nation’s power utility once its takeover of a Glencore Plc unit is completed.
Glencore’s Optimum supplies Eskom Holdings SOC Ltd.’s Hendrina power station and is contracted to do so until 2018 even after a change in ownership, Khulu Phasiwe, a spokesman for the Johannesburg-based power-utility, said by phone on Monday. Optimum also supplies Eskom’s Komati plant from the Koornfontein colliery, while Tegeta has an existing deal to send coal to the Majuba plant from its Brakfontein colliery, he said.