Optimum Coal Holdings and Optimum Coal Mine

Optimum Coal Holdings and Optimum Coal Mine

In 2015, the board of directors and management of Optimum Coal Holdings and Optimum Coal Mine resolved to place both the companies in Business Rescue due to operational and financial difficulties and extremely difficult coal market conditions.

We were able to negotiate on supply contract pricing as well as entering into an accelerated sales process in order to find a strategic investor.

A strategic investor was found to settle the senior bank debt of R2.5bn and over 3 000 employee and contractor jobs were saved.

Previous
Like it, Share it
Previous
Next

Categories