Asa Resources says High Court claim on indigenisation has no merit
JOHANNESBURG (miningweekly.com) – A claim against Asa Resources, brought by Zindico Consortium, which seeks to compel the mine and its partners to indigenise its Freda Rebecca gold mine, in Zimbabwe, has no merit, the company said on Tuesday.
Earlier this month, the company and its Mwana Africa, Freda Rebecca Holdings, National Indigenisation and Economic Empowerment Board, and Ministry of Youth Development Indigenisation and Economic Empowerment partners, were served with a claim in the High Court of Zimbabwe by Zindico.
“We have instructed our legal team in Zimbabwe to file opposing papers,” Asa noted, adding that mining operations at Freda Rebecca would continue as normal with no expected disruptions as a result of the claim.
In a statement earlier this month, Asa noted that Zindico’s claim appeared to be based on a two-year old draft, unsigned agreement which, if signed, would have been conditional upon the approval of the directors of Mwana Africa.
“The draft agreement was apparently negotiated by Kalaa Mpinga, the then CEO of Mwana Africa, who appears never to have submitted it for approval to its board of directors,” said Asa.
The alleged claim sought implementation of the draft, unsigned, agreement in relation to implementation of Zimbabwean indigenisation laws.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation