The battle over mines continues
MBOMBELA - The saga for ownership of Lily and Barbrook mines continued in the Mpumalanga High Court this week.
Vantage Goldfields South Africa (VGSA) as well as Siyakhula Sonke Empowerment Corporation (SSC) and its subsidiary, Flaming Silver Trading, known as SSC Group, appeared in court on Wednesday.
Central to the dispute is a shares agreement between SSC Group and
VGSA. It determined that VGSA had to deliver various documents including share certificates to SSC, enabling the latter to take over their shareholding in VGSA. VGSA cancelled the agreement, claiming that SSC did not have the required funds. SSC asked the court to order that VGSA go through with the sale agreement. SSC’s application is called the “main application” and is still pending.
Two weeks ago, the court heard an intervention application from Ferdi Dippenaar, a former SSC director.
Lowvelder previously reported that Dippenaar was dismissed by the SSC Group board for serious misconduct, which allegedly included leaking confidential information to the VGSA directors, whom he subsequently joined forces with.
On June 7 he applied to join VGSA as a respondent in the main application. He was allowed to do so. During the intervention application, Dippenaar also asked the court to nullify a resolution by SSC Group’s directors in terms of which the signing of an addendum to the agreement between themselves and VGSA had been ratified. The court dismissed this part of his application with costs.
On Wednesday Dippenaar sought to appeal this dismissal. The court is expected to announce its decision on this issue on July 9.
Mike McChesney, CEO of VGSA said they were satisfied because it allows for full disclosure of the facts regarding the signing by SSC for the sale of shares agreement.
“We recognise the pain and suffering endured by the affected workers, their families and its community, that have been amplified by the further delays and disappointments as a result of this ongoing litigation.”
Fred Arendse, chief executive for SSC Group said this was just another delay tactic by both VGSA and Dippenaar.
“There have been delay tactics used by VGSA to frustrate the process of transferring the shares and Dippenaar has now joined in. We have shown the proof to the Business Rescue Practitioners that the money is available,” said Arendse.
Former employees and community members came in their numbers and picketed outside the court. Harry Mazibuko, a representative of the former employees, said they were disappointed.
“We continue to be frustrated as former employees while both VGSA and SSC Group are playing court games. Government should have intervened and resolved this matter a long time ago,” he said.