Big support for black-owned Lurco R500m bid to take over Gupta mine | IOL Business Report

JOHANNESBURG – Black-owned diversified commodities business group Lurco has made a R500 million bid for Koornfontein Mine, one of the entities linked to the controversial Gupta family.

Group chief executive Ellington Nxumalo on Monday told Business Report that Lurco had received overwhelming support from creditors to take over the mine.He said the company had long-term supply contracts with Eskom and international off-takers that it planned to see through. “Lurco has been looking at the Koornfontein asset for just under two years and has employed credible and reputable partners to assist with a robust due diligence of the mine in order to bring it up to full production.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Hong Kong firms pick up pieces from protest damage - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Businesses big and small have suffered smashed windows, graffiti and even fire for their perceived support of mainland China by Hong Kong activists.
Source: SABC News Online - 🏆 32. / 51 Read more »

'Pure corruption': Eskom seeks to recover R207m from Deloitte | IOL Business ReportState power supplier also wants its former chief financial officer Anoj Singh, and senior executive Prish Govender, to pay ... busrep Why was Eskom so incompetent and stupid to approve the Deloitte Contract then in the first place?, or was it greased palms that signed it and now the Dog's bone is gone and the Doggy wants it's bone back?, bloody stupid incompetent corrupt Managers to blame😡🤯
Source: IOL - 🏆 46. / 51 Read more »