Buy Gold

Learn how to buy and sell gold in our online guide to gold investing
Subscribe to RSS feed
Gold News | Gold Investing | Scrap Gold | Buy Gold Bars and Coins | Buy & Sell Bulk Bullion | Sell Your Gold | Gold Forums
Thursday, November 15th, 2018 - Buy Gold - Bringing you trusted gold news and gold investing information since 2006

Aurora May Face Criminal Action

The South African National Union of Mineworkers (NUM) on Wednesday called on the Pamodzi gold mines liquidators to initiate criminal action against the politically well-connected directors of Aurora Empowerment Systems.

A spokesman for the mineworkers union, Lesiba Seshoka, said in a statement released on Wednesday: “The NUM calls on the liquidators to take drastic measures either in the form of civil or criminal action or both against Aurora directors for leaving the mines in the mess they are now in.”

Sheshoka also added: “The union calls on the Master of the High Court to institute an investigation into the conduct of the two dismissed liquidators… The investigation must focus on all the Pamodzi assets including the one sold to Harmony in the Free State where there has been allegations of improper conduct relating to fees charged.”

The interim trading and contract mining agreement that was made with Aurora was recently cancelled by the joint provisional liquidators, who had been appointed to manage the assets of the Pamodzi mines – the Orkney mine in the North West Province and the Grootvlei mine in Springs, Gauteng.

The agreement was cancelled as a consequence of the removal of two of the joint liquidators, Enver Motala and Gavin Gainsford, in an attempt at preserving the “integrity of the process”, according to the South African justice ministry.

As a result of the cancellation Aurora was requested to hand back the mines to the liquidators in the same condition that they were given to them in.

However, on Tuesday, Johan Engelbrecht, one of the joint liquidators, reported that there were “serious discrepancies” between the assets that had been returned to Aurora’s liquidators and those handed to Aurora when it made its R600 million (US$ 88 million) bid for the mines.

Aurora Empowerment Systems have also failed to pay the salaries of workers.

The company is headed by the grandson of former president Nelson Mandela, Zondwa Mandela, and the nephew of current President Jacob Zuma, Khulubuse Zuma.


Looking for a precious metals provider that sells gold coins and bullion (including junk silver)? Click here to visit our favorite provider (FREE SHIPPING!).



© Copyright 2018, Buy Gold