Optimum Coal Mine’s value is being eroded, NPA says
The mine, previously owned by the Gupta family, is in business rescue
The National Prosecuting Authority (NPA), which has launched a court process to have the Optimum Coal Mine (OCM) forfeited to the state, is concerned about the deterioration of the asset under management by business rescue practitioners.
It envisages “a full-blown fight with the business rescue practitioners because [we] are concerned about the erosion of value,” NPA deputy national director of public prosecutions Ouma Rabaji-Rasethaba told members of parliament’s justice and correctional services committee on Monday. The OCM has been in business rescue since 2018 and is the object of highly contested litigation...
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