The Tegeta Exploration and Resources has again filed an application for liquidation from the Gupta company, Oakbay Investments. The Tegeta institution has gone on a hunt for the R402 loan from the Gupta company, which has been in disarray in recent months. Tegeta claims that the Guptas ‘family business’ Oakbay Investments, as an entity owes..
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Liquidation of Gupta company, Oakbay back on the table
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Bankrupt Gupta mine in Mpumalanga sold to black-owned South African mining group
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A black-owned South African mining group, Lurco, is buying the Gupta family’s Koorfontein mine, Netwerk24 reported on Monday morning. The bankrupt mine in Mpumalanga is owned by the Guptas’ Tegeta Exploration and Resources, a unit of Oakbay Investments. It used to supply coal to Eskom, but has not been operational for some time. Employees last..
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Dark times ahead in SA – 10 of Eskom’s 15 power stations has less less than three weeks’ coal left
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Ten of Eskom’s 15 power stations have less than three weeks of (black) coal stock left. According to spokesman Khulu Phasiwe, stock is low due to the fact that supply can not be replaced quickly enough. Accusations are now being placed on Tegeta Exploration who can not fulfil their contractual obligations because they are placed..
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Did Guptas sell mines they didn’t own? The Zuma and Guptas stories is just getting interesting day by day.
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Many questions remain about the Gupta family’s announcement on Wednesday that it was selling Tegeta Exploration, a company with coal mines that, according to Eskom, are critical for keeping the lights on in the country. But two questions stand out: Who is buying Tegeta, and who is selling it? Neighbours in the vicinity of the..
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Are the Guptas starting to feel the heat?
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Gupta-owned Oakbay Investments has sold Tegeta Exploration and Resources to Swiss-based Charles King SA for R2.97-billion, it announced on Wednesday. The firm is at the centre of former Public Protector Thuli Madonsela’s State of Capture report, which found irregularities with its dealings with Eskom. Brian Molefe stepped down as a result of the report in..
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