https://www.miningweekly.com
Business|Contractor|Mining
Business|Contractor|Mining
business|contractor|mining

Wescoal Mining enters into voluntary business rescue

25th August 2023

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

Font size: - +

JSE-listed Salungano Group’s subsidiary Wescoal Mining, which comprises the Khanyisa and Elandspruit mines, will begin with a voluntary business rescue process.

On August 21, Salungano advised shareholders that a mining contractor of Wescoal Mining had taken legal steps to apply for the provisional winding-up of Wescoal Mining and that Wescoal Mining had filed its notice of opposition to the liquidation application.

Shareholders were also advised that Salungano, in its capacity as an affected party, had launched a court application to place Wescoal Mining in business rescue, which application was heard on August 22.

Subsequent to the aforementioned announcement, the respective applications were postponed from August 22 to August 24.

On August 24, the parties to the liquidation application agreed to settle the matter and the terms of the settlement agreement have been made an order of the court. The liquidation application was withdrawn and business rescue process will now begin.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Latest News

Ongoing Douta exploration efforts
Thor reports lower revenue, profits for 2023
Updated 2 hours 14 minutes ago By: Darren Parker

Showroom

Multotec
Multotec

Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
26th April 2024
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.141 0.186s - 125pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: