NATIONAL NEWS - The Guptas may have already dipped into the rehabilitation trust funds for their Optimum and Koornfontein coal mines in Mpumalanga, and there is now an even greater risk the funds will be whisked out of the country, the Organisation Undoing Tax Abuse (Outa) says.

This week, Outa will apply to the High Court in Pretoria for an interim interdict to ensure the India-based Bank of Baroda continues holding the funds and to interdict the trustees or anyone else from disposing of the funds or assets of the trusts.

The organisation also wants the court to direct the trustees to reveal full details of the assets of the two trusts and their location.

This is pending an application to remove the trustees of both trusts and replace them with independent trustees who will take control of the assets and report back to the court.

Alternatively, Outa wants Mineral Resources Minister Mosebenzi Zwane to ensure that other satisfactory arrangements are in place to make financial provision for the ultimate rehabilitation of the mines when they are closed.

Outa launched the application shortly after the High Court in Pretoria dismissed an application by companies in the Gupta family’s Oakbay group (including the two mines) to stop the Bank of Baroda from closing their accounts and calling up their loans at the end of the month.

Read more on the Caxton publication, Alberton Record.