Eskom wasn’t interested in helping Optimum – Marsden SateCaptureInquiry
Following the July 31, 2015, decision by the board of directors of OCM to place the company under voluntary business rescue, Marsden was appointed business rescue practitioner alongside Petrus van den Steen, an appointment effective immediately after August 4, 2015.
Marsden told the commission that soon after his appointment he found that OCM’s sole customer had been Eskom and that a long-term agreement was in place between the two entities. Furthermore, Marsden said he found that the mining company was losing cash on a monthly basis and at the time relied on its shareholder to survive.
Marsden says when they took over at Optimum Coal Mine , there was a long term agreement with Eskom. He says they were selling coal at R150 per tonne and the company was facing financial difficulties at the time.
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