Eskom ‘sets the record straight’ on its dealings with Glencore
Recent media reports quoting Glencore as vehemently denying that it had ever proposed coal price increases of more than R300 per ton to Eskom cannot go unchallenged‚ the electricity parastatal said on Sunday. It said it was unfortunate that Glencore had suggested that Eskom had lied about Optimum Coal Mine wanting to increase the coal prices to R570 per ton.In a statement in which it said it was setting the record straight on its dealings with Glencore‚ Eskom stated:"Following failed attempts by Optimum to renegotiate and extend the coal supply agreement for the Hendrina Power Station at prices higher than the R150 per ton contractual agreement‚ Optimum later proposed a ‘compromise deal’. In terms of the proposed deal‚ the coal supply agreement to the Hendrina power station would be renegotiated at R300 per ton until 2018‚ and thereafter be extended to 2023 at R570 per ton."In a letter dated June 30 2015‚ Optimum said: ‘The base price for the first period and second period shall be...
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