US EditionKalagadi Manganese debt dispute heads for arbitration
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Kalagadi Manganese debt dispute heads for arbitration
THE Supreme Court of Appeal has ruled that a multi-billion rand debt dispute between Kalagadi Manganese and its lenders must proceed to arbitration, dealing a blow to the miner’s attempts to avoid the process. Kalagadi Manganese, led by Daphne Mashile-Nkosi, owes the Industrial Development Corporation (IDC) at least R7bn, along with money owed to the African Development Bank (AfDB) and Absa. The total debt, including accrued interest, has balloo…
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