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Arqomanzi wins Lily Mine case as wheel of favour turns

Search and rescue teams at the collapsed Lily Mine on February 13, 2016 in Barberton, South Africa. Workers were retrenched after the entrance to the mine sank, trapping three workers underground, whose bodies have still not been retrieved. Photo: Felix Dlangamandla/Gallo Images The wheel has turned in favour of a bidder who wants to acquire two Mpumalanga gold mines from an Australian company after the Mpumalanga High Court in Mbombela found that business rescue practitione...
Kwazulu Natal South Africa North West Lily Mine Western Australia South African
Source: news24.com

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Battle for control of Lily mine heads to court again

Another court battle is looming in the drawn-out business rescue process of Mpumalanga’s Lily and Barbrook gold mines after business rescue practitioner, Rob Devereux, was accused of doing a “180-degree turn” on publishing plans in favour of a company that has been waiting on the wings to buy the mines. Arqomanzi appeared likely to acquire the mines from Australian company, Vantage Goldfields (VGO), after making a R250 million offer to Devereux, and becoming the major independent creditor...
South Africa New South Wales Western Australia Eastern Cape Gold Fields Lily Mine
Source: news24.com

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