https://www.engineeringnews.co.za

Asa Resources says High Court claim on indigenisation has no merit

24th January 2017

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

     

Font size: - +

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.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Latest News

Typical Engen garage
Tribunal approves Vitol’s buyout of Engen
Updated 7 hours ago By: Darren Parker

Showroom

Flameblock
Flameblock

FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...

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

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th 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:0.086 0.141s - 156pq - 2rq
Subscribe Now