Guptas

Wat is dit wat Guptas alles wou doen – weet ons alles wat hul slim planne was? Wat as hulle dit gedoen het?  Wat uitstaan is daar word tydelike werksgeleenthede geskep maar dan, ‘n maand of twee later,  verloor almal hul werksgeleenthede en so is dit met alles wat met swart bemagtiging geverf word.  Dit hou nie.  Gedurig is daar hoëvlak veranderings en HUBs wat verwissel.  Intussen word alle stabiele besighede of  boerderye se deure toegegooi .  Met leiers toesprake oor hervorming en aandele in veral boere se plase of eiendomme  – word ‘n groot ophef gemaak, tog het geen werker enige kapitaal daartoe bygedra nie.  Daar word rassisties en diskriminerend gefokus op blankes dat politici hul ware kleure wys en  hul eie minderwaardigheid blootlê!   Wie speel die ‘musical chairs’?  Ons het ‘n internasionale reg om ons eie sake te behartig en regeer,

 

Wat kos dit ons belastingbetalers en hoeveel misdaad is betrokke?

Guptas ‘n druppel hier.   Al hierdie korrupsie en diefstal grens aan erge terreur misdade. Wat maak hul met alles?   Hoe meer besighede inbring hoe meer word gesteel van almal van ons!  Hoe meer word immigrante oral ingestuur. Hoeveel subsidieër ons en die land se minerale?   Dis EU sowel Amerika en Australië – nie net in SA. Meestal is dit mans immigrante.  Waar is hul eie vroue en kinders of was hierdie ‘n spesifieke teëlprogram waarmee gebreinspoel word?   In sommige plekke word kinders as skild gebruik!

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Quotes

Tegeta Exploration & Resources, a venture whose shareholders include the Gupta family and President Jacob Zuma’s son Duduzane, is acquiring the rights to export eight million metric tonnes of coal through Africa’s biggest port for the fuel.

Richards Bay Coal Terminal, which lies on the north east coast and is owned by mining companies, shipped a record 75.4 million tonnes last year and has a design capacity of 91 million tonnes. Its shareholders include Anglo American [JSE:AGL], Glencore [JSE:GLN] and South32 [JSE:S32] and almost all of South Africa’s coal exports move through the terminal.

The purchase “allows us access to an export contract,” Nazeem Howa, the chief executive officer of Tegeta shareholder Oakbay Investments, said at an antitrust hearing in Pretoria on Wednesday. “Until now, that’s been controlled by the big players. It’s quite significant access.”

Tegeta agreed to buy Optimum for R2.15bn in December after Glencore put the business into administration, saying that the refusal by state power utility Eskom to renegotiate a coal supply deal had made it unprofitable.

The Guptas, a family from India whose South African businesses span media to uranium mining, have been criticised by labour unions and opposition parties for their links to Zuma.

In addition to doing business with his son, their companies have employed his daughter and one of his wives. Mosebenzi Zwane, South Africa’s mines minister, said he traveled to Switzerland to meet with Glencore to try and advance the deal to save jobs.

The combined export allocation is from Optimum Coal Mine and Koornfontein mine, which is also part of the deal, Louise Brugman, a spokesperson for Optimum’s administrators, known locally as business rescue practitioners, said in an emailed response to questions.

The Competition Commission recommended the purchase be approved, provided it doesn’t result in any of the 3 000 employees in the joint operations losing their jobs. The Competition Tribunal must now make a ruling as to whether it can go ahead.

Vitol Group, the world’s largest independent oil trader, walked away from a deal to buy a stake in the Richards Bay Coal Terminal from a company controlled by the Gupta family.

“The consortium comprising Vitol and Burgh Group Holdings will not be proceeding with the acquisition,” the commodities-trading house said in a statement on Monday.

The proposed deal, first reported by Bloomberg News in September 2016, would have seen Vitol and South Africa’s Burgh Group acquire Optimum Coal Terminal from the Gupta’s Tegeta Exploration and Resources. It would have given the consortium a 7.61% stake in Richards Bay and rights to ship about 8 million tonnes of the fuel from South Africa annually.

The Guptas are friends with President Jacob Zuma. In December 2015 the family, along with Zuma’s son Duduzane, bought Optimum through Tegeta for R2.15bn ($163m) from miner and trading house Glencore.

The purchase would have given Vitol, which handles more than 7 million barrels of oil a day and more than 30 million tonnes of coal annually, access to a key export facility in one of the largest coal-producing countries.

Vitol has trading and marketing operations in South Africa and its VTTI unit is building a fuel-storage facility in Cape Town. In 2012, it formed a coal-trading company in neighboring Mozambique by buying a stake in a terminal that exports coal from South African mines.

While South Africa has quality coal reserves and is well positioned to export the fuel to India and China, shipments are constrained by limited port capacity. Only shareholders have an automatic right to export through Richards Bay, which accounts for almost all of the country’s coal-shipping capacity. Other investors in the facility include Anglo American, South 32, and Glencore.

Oakbay Resources and Energy, a mining company controlled by the Guptas, will delist from the Johannesburg Stock Exchange this month after if was unable to find a new transfer secretary or sponsor to comply with exchange rules.

In November, the Public Protector published a report saying Zuma and some ministers may have breached the government’s code of ethics in their relationship with the Gupta family.

Companies controlled by the family were dropped by their South African bankers and auditors last year and Bell Pottinger, a UK-based public relations firm, said in April it no longer represents the Oakbay Investments holding company.

https://m.fin24.com/Companies/Industrial/vitol-walks-away-from-gupta-deal-20170717

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Who scored?

Zuma and his partners

his son?

Tegeta Exploration & Resources, a venture whose shareholders include the Gupta family and President Jacob Zuma’s son Duduzane, is acquiring the rights to export eight million metric tonnes of coal through Africa’s biggest port for the fuel.

Richards Bay Coal Terminal, which lies on the north east coast and is owned by mining companies, shipped a record 75.4 million tonnes last year and has a design capacity of 91 million tonnes. Its shareholders include Anglo American [JSE:AGL], Glencore [JSE:GLN] and South32 [JSE:S32] and almost all of South Africa’s coal exports move through the terminal.

The purchase “allows us access to an export contract,” Nazeem Howa, the chief executive officer of Tegeta shareholder Oakbay Investments, said at an antitrust hearing in Pretoria on Wednesday. “Until now, that’s been controlled by the big players. It’s quite significant access.”

Tegeta agreed to buy Optimum for R2.15bn in December after Glencore put the business into administration, saying that the refusal by state power utility Eskom to renegotiate a coal supply deal had made it unprofitable.

The Guptas, a family from India whose South African businesses span media to uranium mining, have been criticised by labour unions and opposition parties for their links to Zuma.

In addition to doing business with his son, their companies have employed his daughter and one of his wives. Mosebenzi Zwane, South Africa’s mines minister, said he traveled to Switzerland to meet with Glencore to try and advance the deal to save jobs.

The combined export allocation is from Optimum Coal Mine and Koornfontein mine, which is also part of the deal, Louise Brugman, a spokesperson for Optimum’s administrators, known locally as business rescue practitioners, said in an emailed response to questions.

The Competition Commission recommended the purchase be approved, provided it doesn’t result in any of the 3 000 employees in the joint operations losing their jobs. The Competition Tribunal must now make a ruling as to whether it can go ahead.

https://m.fin24.com/Companies/Mining/gupta-zuma-firm-gets-10th-of-richards-bay-export-rights-20160218

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2017

“The consortium comprising Vitol and Burgh Group Holdings will not be proceeding with the acquisition,” the commodities-trading house said in a statement on Monday.

The proposed deal, first reported by Bloomberg News in September 2016, would have seen Vitol and South Africa’s Burgh Group acquire Optimum Coal Terminal from the Gupta’s Tegeta Exploration and Resources. It would have given the consortium a 7.61% stake in Richards Bay and rights to ship about 8 million tons of the fuel from South Africa annually.

The Guptas are friends with South Africa’s president Jacob Zuma. In December 2015 the family, along with Zuma’s son Duduzane, bought Optimum through Tegeta for R2.15 billion ($163 million) from miner and trading house Glencore.

The purchase would have given Vitol, which handles more than 7 million barrels of oil a day and more than 30 million tons of coal annually, access to a key export facility in one of the largest coal-producing countries. Vitol has trading and marketing operations in South Africa and its VTTI unit is building a fuel-storage facility in Cape Town. In 2012, it formed a coal-trading company in neighbouring Mozambique by buying a stake in a terminal that exports coal from South African mines.

While South Africa has quality coal reserves and is well positioned to export the fuel to India and China, shipments are constrained by limited port capacity. Only shareholders have an automatic right to export through Richards Bay, which accounts for almost all of the country’s coal-shipping capacity. Other investors in the facility include Anglo American, South 32, and Glencore.

Oakbay Resources and Energy, a mining company controlled by the Guptas, will delist from the Johannesburg Stock Exchange this month after if was unable to find a new transfer secretary or sponsor to comply with exchange rules.

In November, South Africa’s anti-graft ombudsman published a report saying Zuma and some ministers may have breached the government’s code of ethics in their relationship with the Gupta family.

Companies controlled by the family were dropped by their South African bankers and auditors last year and Bell Pottinger, a UK-based public relations firm, said in April it no longer represents the Oakbay Investments holding company.

 

 

http://export-africa.co.za/2017/07/18/vitol-abandons-plans-to-buy-gupta-stake-of-richards-bay-coal-terminal/