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JCI brings merger date forward to April 9
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24th March 2009
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JOHANNESBURG (miningweekly.com) – The date of the next hearing into the proposed merging of mining companies JCI and Randgold & Exploration (R&E) has been brought forward to April 9.

Earlier this month, senior counsel Michael van der Nest, acting chairperson in the absence of senior counsel Vincent Maleka, adjourned the meeting to April 29 at the latest.

JCI directors said on Tuesday that they had managed to bring the meeting date forward by 20 days.

It was clear at the last meeting that the companies had narrowed down their differences, JCI CEO Peter Gray announcing that agreement in principle had been reached with the Letšeng diamond mine and investor Monty Koppel for a settlement of their action against Investec Bank and JCI.

UK barrister Denis Daly, acting for Letšeng and Koppel, endorsed Gray's viewpoint, adding that the progress that had been made was "very far-reaching" and that there had been changes of position "of a significant nature".

Both JCI and R&E were, in the past, functioned under the leadership of the controversial, deceased mining magnate, Brett Kebble.

Edited by: Creamer Media Reporter

 

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