The dirty business of the CEO of mining company Resgen includes environmental pillage, theft and paedophilia.
Resource Generation Ltd (Resgen), a company listed both in Australia and on the JSE, is currently seeking to raise funds to develop the controversial Boikarabelo open-cast coal mine in the Waterberg region. The project is to be undertaken by its BEE-compliant local subsidiary, Ledjadja Coal.
Various NGOs have been desperately campaigning to stop coal mining there, as it threatens to permanently poison the water supply to huge swathes of already drought-stricken South Africa. Besides its impact on human settlements and agriculture, it could destroy the Kruger National Park.
No surprise: in keeping with the culture of the Zuma era, Resgen’s single biggest shareholder is the government-controlled Public Investment Corporation.
In October the Resgen Board issued a statement announcing that, “given the current state of negotiations with proposed financiers”, it has deemed it in the best interests of the company to extend the employment contract of its CEO, Rob Lowe, for at least a further 12 months. His contract provides for a large salary and a very good success bonus.
Who is Rob Lowe? Where have we come across his name before?