The Optimum Coal Mine and Terminal, once owned by the Gupta brothers, are to be retained as South Africa’s state property after a Supreme Court of Appeal (SCA) decision in favour of the National Prosecuting Authority (NPA).
The business rescue practitioners of the Guptas’ mining company Tegeta Exploration and Resources, Optimum Coal and Optimum Coal Terminal, the National Union of Mineworkers and two companies belonging to former Gupta business associate Daniel McGowan had appealed an earlier high court decision to allow the Asset Forfeiture Unit of the NPA’s to preserve the Gupta mine and coal terminal, the weekly Sunday Times reported.
The coal assets, estimated in March last year to be worth more than USD 219 million, are part of several Gupta-owned assets seized by the NPA after the three brothers and their families fled the country to avoid charges of corruption.
