Nkwe Platinum Ltd, a wholly owned subsidiary of leading global mining company the Zijin Mining Group, welcomes the decision of the Pretoria high court to grant its application for leave to appeal the judgment of the same court.
The judgment was handed down on the January 30 2024, and relates to an amalgamation transaction that was concluded in 2019.
The granting of Nkwes application marks a significant step forward in the court proceedings.
The main case was heard from January 31 to February 2 2023, and revolved around the validity of the amalgamation transaction that led to Zijin Mining Group acquiring a 100% shareholding in Nkwe Platinum Ltd.
Genorah contested the transaction, that required the consent of the minister of the department of mineral resources energy, alleging that the absence of this consent rendered the transaction void and resulted in Nkwes (74%) undivided share in the mining right lapsing.
