Master removes gold liquidators, Exxaro bids for iron-ore asset

The Master of the High Court of South Africa has removed Pamodzi Gold liquidators Enver Motala and Gavin Gainsford and South African diversified miner Exxaro has announced a A$123-million takeover offer for Australian iron-ore miner Territory...

Spat over Pamodzi liquidators’ R43m fee turns on gold’s movability

Another spat has emerged around the marathon liquidation of the former JSE-listed Pamodzi Gold, but this time not around the preferred Aurora bidder for the Orkney and Grootvlei gold mines, but rather fallout around Harmony Gold’s purchase of...

Gold’s movability validates decried R43m Pamodzi fee – liquidator

The movability of gold validates the 10% fee that liquidators charged for selling Pamodzi's Free State gold mine to Harmony Gold, says lead liquidator Enver Motala. The liquidators sold the President Steyn gold mine for R439,6-million and charged...

Some Aurora Grootvlei miners paid

A total of R800 000 has been paid towards the salaries of some Aurora Grootvlei miners from Springs, the department of labour said on Wednesday. "[This] follows after the department took a case to get an undertaking from the employer (Aurora...

Court gives Aurora more time to find money

The politically connected Aurora group was given more time by the High Court in Pretoria on Friday to produce funding guarantees to buy the financially stricken Pamodzi Gold mine, one of the liquidators said. "The court has given them an...

Simmers not prepared to renegotiate for Orkney mines

South African gold-mining company Simmer & Jack Mines (Simmers) said on Monday that it was not prepared to put its offer for the liquidated Pamodzi Gold Orkney operations back on the table. Last year, the miner offered R110-million to take over...

$51,5m Chinese bid for Aurora's stricken Orkney, Grootvlei gold

A Chinese-backed consortium – the Virgile Asia Mining Consortium that is believed to include the Hong Kong-listed Grand TG Gold – on Tuesday submitted a formal $51,5-million bid for the financially stricken Orkney and Grootvlei gold mines,...

Aurora secures rescue funding on deadline for stricken gold mines – liquidator

Reputationally damaged gold-mining aspirant Aurora Empowerment Systems signed a deal on deadline that would rescue both the cash-strapped Grootvlei and Orkney gold mines and would also provide additional funding for much-needed capital expenditure...

Daily podcast – April 13, 2010

The liquidators of Pamodzi Gold have initiated a tender process for the disposal of all shares and claims in Pamodzi Gold West Rand operations; and a request for a proposal for the building of a $600-million, 300-MW power plant using discard Anglo...

Bids open for liquidated Pamodzi Gold West Rand operations

The liquidators of Pamodzi Gold has initiated a tender process for the disposal of all shares and claims in Pamodzi Gold West Rand operations, with final bids closing on May 10. Pamodzi Gold was placed in final liquidation on October 6, 2009,...

Offspring of South Africa’s iconic struggle veterans 
take to the gold stage

The offspring of the iconic Nelson Mandela and South African President Jacob Zuma have taken to the stage in South Africa’s ever-changing gold-mining industry.

Initiating a ‘new golden struggle’ is Nelson Mandela’s grandson, Zondwa...

Aurora destined to be major gold player – Zondwa Mandela

The soon-to-be-listed Aurora Empowerment Systems was destined to be a major gold player, Zondwa Mandela, Nelson Mandela's grandson, said on Wednesday as he clinched another significant gold acquisition and revealed, under questioning, that he had...