Optimum Coal business rescue practitioners threaten to go to court if RBCT terminates contract
Terminal, which is owned by several mining companies including Glencore, Thungela Operations, Seriti and Exxaro, gave Optimum until end of this month to cease using the export terminal facility. RBCT served the mine with the termination letter alleging that Optimum Coal Mine had failed to meet the coal exporter's requirements, which could see the mine ceasing to export coal through the facility, citing reputational risks.
However, in a letter dated December 28 2022, business rescue practitioners Kurt Robert Knoop and Kgashane Christopher Monyela gave RBCT CEO Alan Waller until Friday to reconsider its position or meet in court. From your letter it is clear that you, your team and your advisers have still to consider a substantial amount of information which may affect the conclusions contained in your letter of November 30 2022, and that you will supply us with the RBCT board’s response following its consideration of the information by January 20 2022,” the letter read.
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