A consortium led by State-owned mining company African Exploration Mining and Finance Corporation (AEMFC) has been awarded the post-commencement funding (PCF) bid for Optimum Coal and its associated assets to the value of R1-billion. PFC is finance granted to a company in business rescue and is meant to address the business rescue practitioner’s (BRP’s) remuneration, employee costs, working capital and other means of maximising the probability of a successful turnaround.
