One of the issues facing new Mineral Resources Minister Gwede Mantashe will be whether to approve the sale of the Gupta-owned Tegeta Exploration & Resources to little-known Swiss clothing company Charles King for R3bn. The National Union of Mineworkers (NUM) raised concern in Parliament on Wednesday that the sale might be a "fake" and one which could leave workers without jobs as Charles King had no experience in mining. The NUM questioned how the department could approve such a sale. Tegeta owns Optimum Coal Mine, which is now under business rescue, as well as Koornfontein and Brakfontein mines. The department — under former minister Mosebenzi Zwane (allegedly closely linked with the Guptas) — welcomed last year’s announcement of the sale by Tegeta’s parent company, Oakbay Investments. However, acting chief director Modilati Malapane told the portfolio committee on mineral resources on Wednesday that no formal application had been lodged with the department for the sale, as require...
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