Thread by @judahwillemse

"If Glencore Holds A Gun To My Head They Must Shoot" Brian Molefe [The True Facts Behind Marikana] @_AfricanSoil
#Thread

World bank issued Lonmin $150 million loan to elevate miners' housing conditions to build 4500 houses-Lonmin's housing head Ramaphosa claims he doesn't know where funds disappeared & only 5 houses were built.

Lonmin moved R3.7 billion in tax evasion offshore to evade miners' salary increases.
Lonmin's debt now reached equal to the company's value of $2 billion,75% on short term repayment obligations.

Lonmin parent company Glencore's( owned by Ivan Glasenberg) debt had now reached US$30 billion, the highest in the mining industry globally- Glencore was facing instant bankruptcy.

Lonmin's market value dropped from R26 billion in 2010 to R16 billion in 2012, & it's share value had decreased by 73%, thus couldn't issue sufficient dividends to it's shareholders, thus Shanduka couldn't make repayments on it's debt to Lonmin, which reached US$381 million.

Lonmin further received a Standard & Poor's ratings agency downgrade to BBB- / two notches above junk status.

Miners embarked on strike action for salary increases & housing conditions elevation,the strike costing Lonmin R60 million per day for 5 months.

Cyril Ramaphosa, as ANC NEC Member eventually attempts using his direct political influence in the ANC & emailed the then police minister & fellow NEC Member Nathi Mthethwa to engage in "concomitant action" against striking miners.

Cyril's efforts fail, Lonmin exec Roger Phillimore contacted NW Provincial Police Commissioner General Mbombo directly
648 policemen were deployed to Marikana with 4000 live rounds of ammunition & special R5 rifles were used where balistics can't be traced back to source weapon.

General Mphembe commanding police officers on the day, who was at first hesitant to use maximum force, then called the order to shoot down miners after a direct call from General Mbombo & 112 miners are gunned down by police leaving 34 dead.

Following the massacre,Lonmin cancelled $297 million vendor finance debt owed by Ramaphosa & Northwest Police Commissioner immediately resigned from SAPS.

On the other hand, 2008 mining company BHP Billiton sold Optimum Colliery to company owned by a group of entrepreneurs lead by former BHP Energy Coal SA COO Eliphus Monkoe, called Optimum Coal Holdings- listing on the JSE in 2010.

Optimum Colliery was still bound by it's CSA with Eskom, signed by BHP & Eskom in 1993, to supply Eskom's Hendrina power station with 5.5 Mega tons per anumn(Mtpa) at R150 a ton.

Quarter 3 of 2011 Glencore(owned by Ivan Glasenberg) made a bid for Optimum Coal with a company called Lexshell 849 (owned by Cyril Ramaphosa) as it's 26% BBBEE equity partner. Glencore pits the acquisition at a value of US$ 780 million!

Q4 2012, Glencore posted losses on Optimum Coal investment & reached US$ 1 billion, remember Glencore's debt had reached US$30 billion, highest in mining industry globally, & share value, declined by 73%, & Standard & Poor's investment grade of BBB- / 2 notches above junk status

2014- when Ramaphosa had been elected RSA Deputy President, there were suddenly gliches in Phembani & Shanduka's merger. Ramaphosa intentionally stalled the sale of Shanduka to Phembani Group for a full year, as to again attempt to use his political influence as Deputy President.

Cyril was also chairing Eskom War room & seeked to look out for Glenco but Brian Molefe had been appointed Eskom CEO & it's then he uttered the words of a "Gun To My Head" & took no nonsense from Cyril & Glencore & simply refused to increase the coal purchase price for Glencore!

The CSA amount of R150 per tonne to R530 per tonne demanded by Optimum despite Optimum threatening & eventually delivering substandard coal but Brian Molefe refused to budge!

Eskom invoked CSA penalty of R2,2 billion for the sub-standard coal supplied, Glencore had to place Optimum Colliery on auction at a further loss of R400 million to Glencore. Glencore further lost out on a chance at recuperating it's losses at Optimum Colliery.

Ramaphosa was elected ANC DP in 2012, yet only finalized his divestment from Shanduka late 2015 when Brian Molefe was clearly bypassing the war room in Eskom decision making, Ramaphosa having being elected RSA DP in 2014.