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Chinese firm takes over Orkney mine 07:59. Sapa Johannesburg China African Precious Metals (CAPM) has taken control of Pamodzi Gold''s Orkney mine, Pamodzi''s liquidators said on Wednesday. "A phased implementation plan has been proposed by CAPM in respect of the mine and various studies in this regard are ongoing. ...
The Department of Mineral Resources reported that the joint Provisional Liquidators of the Pamodzi Group had given the interim trading contract and mining agreement to Aurora Mines. However, the venture had also failed and Aurora was placed under liquidation. 3000 East Rand and 1170 Orkney miners were affected.
Chinese buy Orkney gold mine for R150m, plan R525m capital . JOHANNESBURG () – Chinese company SSC Mandarin of Hong Kong has bought Pamodzi Gold''s Orkney gold mine out of liquidation for .
The bid that Simmer Jack Mines (Simmers) would submit for the stricken Pamodzi Gold''s provisionally liquidated Orkney mine would not cover the operation''s current R337million financial ...
Jun 02, 2015· Mandela, Zuma relatives fighting claims of fraud over gold mine. ... Aurora bid for the Orkney mine, west of Johannesburg, from the estate of Pamodzi Gold.
CHINA African Precious Metals (CAPM), which is affiliated to Hong Kong''s SSC Mandarin Holdings, is buying the liquidated Orkney gold mine in South Africa for 150 million rand (US15 million). Orkney was an asset of Pamodzi Gold which went bankrupt in 2009 and .
Jun 03, 2010· Pamodzi Orkney and Pamodzi Gold management indicated this was one of the reasons the company failed because of the lack of cash flow from the ore they were mining at Orkney, Motala said. Motala said he has raised the matter with AngloGold''s legal department after AngloGold terminated its services on Tuesday.
Londonlisted goldmining company Thistle Mining has announced its plans to accept a bid from Pamodzi Gold for its South African gold mine President ''s board agreed to the nonbinding proposal for the sale offered by Pamodzi, in a deal which will cost the purchasing company 300 million South African Rand (41 million).
Pamodzi''s Grootvlei mines finally sold Solidarity: Orkney transaction hangs in the balance Gold One and Goliath Gold are heroes who have brought hope for thousands of former Pamodzi and Aurora mineworkers of the Grootvlei mines, trade union Solidarity said today.
Pamodzi and Aurora history not to be repeated with the sale of the Orkney mine Solidarity. Solidarity today welcomed the sale of liquidated Pamodzi Gold''s Orkney mine in North West for about R140 million to China African Precious Metals (CAPM), but cautioned that CAPM should not follow in the footsteps of its predecessors, Pamodzi and Aurora Empowerment Systems.
Aug 14, 2011· [] — THE first of 2,500 laidoff workers at troubled Pamodzi Gold''s Orkney mine could be back at work by the end of October if the court this week approves the R150m buyout offer by a ChineseSouth African consortium.
Jun 25, 2015· The Pretoria High Court has found the directors of Aurora Empowerment Systems guilty of negligently running the Pamodzi mines in Springs and Orkney. News; ... of Pamodzi gold mine .
China African Precious Metals (CAPM) agreed to fork out R150million for Pamodzi Gold''s liquidated Orkney assets, the joint provisional liquidators announced on Friday.
Court finds Mandela, Zuma heirs liable for ... guilty of stripping the assets of Pamodzi Gold''s mines. ... Assertions contained in Aurora''s bid documents for Pamodzi''s Orkney mine were a ...
Dec 18, 2012· Pamodzi workers at Orkney paid. ... Aurora Empowerment Systems was named the preferred bidder to manage the liquidated Pamodzi Gold''s Grootvlei and Orkney mines in .
Sep 11, 2012· AES eventually acquired the rights to operate Pamodzi''s Grootvlei and Orkney gold mines after putting in a bid of R215 million (US million) in October 2009. At the time, AES promised a R600 million (US75 million) investment in the mine, job security for .
The High Court in Pretoria on Monday will hear a claim against mining company Aurora Empowerment Systems'' directors for allegedly stripping the assets of the liquidated Pamodzi Gold''s mines in Springs, Gauteng, and Orkney, North West. Aurora''s liquidators want to go to court to hold the company''s directors responsible.
Jan 27, 2013· Orkney Gold Mine This is the Mining Right for the Orkney Gold Mine and in terms of the greater Vaal River area, . and Pamodzi Gold Orkney''s joint provisional . »More detailed Pamodzi Gold liquidator under fire but is there a .
Sep 10, 2012· World Socialist Web Site ... AES eventually acquired the rights to operate Pamodzi''s Grootvlei and Orkney gold mines after putting in a bid of R215 million (US million) in .
Orkney Gold Mine Orkney is a large 7 shaft mine on a mining right that covers an area of 10, ha. It was originally owned by Anglo American, which later became AngloGold Ashanti Limited, and was...
Aug 19, 2008· One of Pamodzi''s other operations is the Orkney gold mine in the North West province, which it took over from Harmony in February 2008, and which will produce some 100,000 to 110,000 ounces of gold this year. A lot of this is from pillar mining, but there are also areas of open ground where geological modelling and infrastructural development ...
May 31, 2011· Behind the scenes of Pamodzi liquidation. ... Further to this, it is also pertinent to note that Solidarity have no members at the Pamdozi Gold Orkney mine – .
South Africa: Corruption exposed at Orkney and Grootvlei mines By Eric Gram ... €€€AES eventually acquired the rights to operate Pamodzi''s Grootvlei and Orkney gold mines after putting in a bid of R215 million (US million) in October 2009. At the ... The liquidators of Pamodzi Gold mines will submit a claim of billion (US ...
Orkney gold mine was sold off with other assets when Pamodzi Gold went into liquidation in 2009. It was bought by Aurora, a company with Khulubuse Zuma and Nelson Mandela''s grandson Zondwa Mandela among its directors.
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