Mmegi

Creditor wants Minergy under judicial management

Under pressure: A major creditor wants Minergy under judicial management PIC: PHATSIMO KAPENG
Under pressure: A major creditor wants Minergy under judicial management PIC: PHATSIMO KAPENG

One of Minergy Coal’s creditors has taken the coal mine to the High Court, demanding it be placed in judicial management for the recovery of debt.

Whilst details on the identity of the creditor were not available at press time, industry insiders indicate the difficulties may have to do with the current or former mining contractor. The funds paid to the mining contractor constitute the highest operating costs for mines such as Minergy’s Masama Coal Mine.

Directors at the troubled operation confirmed the latest developments in an update to Botswana Stock Exchange investors.


Editor's Comment
Human rights are sacred

It highlights the need to protect rights such as access to clean water, education, healthcare and freedom of expression.President Duma Boko, rightly honours past interventions from securing a dignified burial for Gaoberekwe Pitseng in the CKGR to promoting linguistic inclusion. Yet, they also expose a critical truth, that a nation cannot sustainably protect its people through ad hoc acts of compassion alone.It is time for both government and the...

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