Behind the scenes of Pamodzi liquidation
Pamodzi Gold Orkney (PGO) was placed in provisional liquidation on March 20, 2009, by order of the North Gauteng High Court, pursuant to an application launched by Engineering Labour Hire and Mining Supplies.
The court issued a certificate of provisional appointment on March 21, 2009, appointing Enver Motala, Allan Pellow and Deon Botha as the joint provisional liquidators of PGO.
On March 23, 2009 the court granted the joint provisional liquidators an extension of powers order following their ex parte application, to enable them to deal with the assets of PGO in the best interests of the general body of creditors.
On April 17, 2009, Pamodzi Gold East Rand, Nigel Gold Mining, Consolidated Modderfontein Mines 1979, Grootvlei Proprietary Mines and Consolidated Modderfontein Mines (collectively referred to as the East Rand companies) were all placed into provisional liquidation.
The court issued certificates of provisional appointment, dated April 20, 2009, appointing Enver Motala, Allan Pellow, Barend Petersen, Johan Engelbrecht, Gavin Gainsford and Deon Botha as joint provisional liquidators of the East Rand companies.
The liquidators were appointed to deal with the assets of the East Rand companies in the best interests of the general body of creditors.
At the outset, the liquidators have, at all times, acted unanimously and jointly, as required by law.
This has been a complex estate to administer with varying stakeholder interests at play. Two of the joint provisional liquidators, Barend Petersen and Johan Engelbrecht, are also nominees of the National Union of Mineworkers (NUM) and Solidarity, respectively.
The liquidators have at all times acted within the confines of the law.
South Africa Gold Mines Photos - News
Towards the end of 2010 a second Chinese-based entity, Shandong Gold, expressed serious interest in funding Aurora. They indicated their desire to explore investment opportunities in the gold sector in South Africa. In this regard, on behalf of the
Solidarity said that it was "shocked" that the North Gauteng High Court had granted Aurora Empowerment Systems another extension in the provisional liquidation of Pamodzi Gold's two gold mines. Photo: Cara Viereckl Good riddance
Jonah run Jonah Capital from South Africa. The Ghana gold pioneer is best known for his many years running Ghana's Ashanti Goldfields and its century-long monstrous mine at Obuasi, then preparing it for sale to AngloGold. The merged company is now
Grootvlei mineworkers and the National Union of Mineworkers say they do not believe that Chinese investors visiting South Africa will decide to invest in Aurora and its troubled mines. Photo: Reuters. Chinese investors would visit South Africa next
The United States ranks fourth in gold production -- behind China, Australia and leader South Africa -- thanks almost entirely to Nevada. This reputation is because of mines, not individual prospectors who don't have to report their findings.
Depth and death for South Africa's gold mines | China business news
The massive drill is deafening as it bores into the rock of the world’s deepest mine, where heat and humidity sap the strength of gold miners who never know when the next rock fall might kill or maim.
At 3.8 km (2.4 miles) underground, it feels like the bottom of the world.
Toil and blood have brought humans to this spot, the lowest in AngloGold Ashanti’s Mponeng mine, 60 kms (35 miles) southwest of Johannesburg.
At such depths it is impossible to ignore the thousands of tonnes of rock overhead — unnerving in a region prone to seismic activity.
“Sometimes you feel a tremor down here. You get used to them,” said section manager Geert Jacobs, clad in overalls and hard hat as he directed journalists through a tunnel.
But tremors can be fatal and the following day a rock fall in the mine killed a worker — the first death in 2011 at Mponeng.
Mining was halted while it was investigated, which has become standard procedure since South Africa set out to cut the heavy death toll in mines, chiefly among black workers, that the authorities tolerated before white minority rule ended in 1994.
According to government data, 855 miners were killed in South Africa in 1986 but that number has been falling, hitting 220 in 2007 — a period when the mine labour force also shrank.
But this positive trend has had setbacks. In the first five months of this year mine deaths are up eight percent to 53 compared to the same time last year — and they were up over 25 percent in the first quarter — putting mine safety back in the spotlight.
South Africa’s mines are among the most dangerous in the world not least because of the astonishing depths that miners reach to extract gold from the vast reef that has supplied much of the world’s bullion.
Mponeng is part of the trio of AngloGold’s “West Wits” operations that in 2010 produced 1.78 million ounces or 39 percent of output for Africa’s largest gold producer.
Rock falls are a constant concern in South Africa. A government study estimated that of the 220 deaths in mines in 2007, fall of ground was the main cause, responsible for 76.
But at Mponeng, safety has been improving even as AngloGold has blasted ever deeper. In 2001 seven miners were killed there but the numbers have been falling. Last year two lost their lives and none had this year before last week.
South Africa Gold Mines Photos - Bookshelf
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