
Glencore
Molefe: The behaviour of Cyril Ramaphosa and Glencore was 'revolting'
Former Eskom CEO Brian Molefe has implicated President Cyril Ramaphosa at the state capture commission of inquiry. Molefe also testified that load shedding had...
President Cyril Ramaphosa and African National Congress leader speaks to Eyewitness News and 702 in a wide-ranging interview.
Former Eskom CEO Brian Molefe’s lawyer said that he would not incriminate himself if asked about the Eskom civil claim and the criminal charges being investigated by the Special Investigating Unit (SIU).
Dr Ben Ngubane testified at the state capture inquiry where he said that Glencore supplied the country's power utility with sub-par coal, leading to further problems at Eskom.
While the Swiss-based firm remained profitable on an operating basis -- $1.5 billion in adjusted earnings before interest and taxes -- it booked impairment charges of $3.2 billion.
Wednesday’s announcement, in a statement issued by the fund, is the first to show the tougher rules being applied.
The death toll was originally estimated at 36 but rose to 43 on Friday as more bodies were uncovered.
Clinton Ephron took the stand at the state capture inquiry on Wednesday and testified that Brian Molefe simply refused to negotiate a new contractual agreement with the mining company without giving reasons.
This emerged from testimony by former Glencore CEO Clinton Ephron, who is on the stand at the Zondo commission of inquiry into state capture.
Clinton Ephron's testimony comes a day after the inquiry heard evidence on Eskom’s coal supply agreements with Gupta-owned company Tegeta.
The state capture commission resumes with testimony from former Glencore CEO Clinton Ephron.
Ephron was Glencore’s CEO when the company sold its Optimum coal mine to Gupta-owned Tegeta.
Talks with the Congolese government were ongoing, but the industry was looking 'at the option of legal action,' Glencore Plc’s CEO Ivan Glasenberg said.
Glencore’s former Israeli partner in copper and cobalt operations in Congo had triggered litigation and a legal tangle that investors worried might affect supplies of cobalt.
Congo is the world’s largest producer of cobalt and this latest development reinforces the risks to global supplies created by a controversial mining code.
The focus of the inquiry will be to investigate maladministration in the Mineral Resources Department and the role it may have played in facilitating the sale of Glencore assets.
The former chief financial officer testified before parliament's inquiry into the power utility until 1 am on Wednesday.
South Africa’s Competition Commission recommended the roughly $900 million transaction with Sinopec be approved with certain conditions, Asia’s largest refiner said in a statement.
Tegeta threatens to shut down coal supply to Hendrina power station just as Eskom discovers thousands of tons of coal have gone ‘missing’.