CAPE TOWN – Project Halo, the consortium that came out as the preferred bidder in the highly-contested purchase of Optimum Coal Mine, rejects allegations of impropriety in the way it secured the bid to acquire Optimum Coal mine and other related assets.
“Let it be stated clearly that we won the bid fair and square, based on our sound business proposal which was assessed by the Business Rescue Practitioners as the best plan presented to them”, said Paul Buckley, director, Project Halo.
Project Halo won a bid to buy Optimum Coal Mine, Koornfontein Mine, and Optimum Coal Terminal for R3.6 billion.
The consortium declared its expression of interest in the mine in March 2018, putting down a deposit of R250 million, as per Business Rescue Practitioners procedure, towards the end of 2018.
Project Halo tagged its bid at R3bn “based on what we believe the company is worth”, said Buckley.