[miningmx.com] — The drama over mineral rights for Kumba Iron Ore’s valuable Sishen Mine will intensify this week when the department of mineral resources has to submit its response to the North Gauteng High Court, following allegations that documents from Kumba were forged and used to apply for the mineral rights.
The department was to have submitted the replying affidavits to the court last year, but late in the year agreement was reached that the department would be given extension to Tuesday.
On Friday Kumba announced that Imperial Crown Trading 289 (ICT), who was awarded the prospecting rights that Kumba is contesting in this action, has also applied to convert these rights to mining rights. While the department has accepted the application, it has not approved it yet.
Kumba has meanwhile lodged a second court application to contest the acceptance of the application for mining rights.
ICT, whose shareholders include friends of Jacob Zuma and his son Duduzane, were granted until next Monday to respond to these allegations.
ICT probably applied for the mining rights because ArcelorMittal SA (Amsa) had begun to doubt whether it wanted to proceed with the takeover of ICT for R800m. ICT shareholders, as well as Duduzane Zuma, will become shareholders in Amsa as part of a BEE deal.
In terms of the BEE agreement they would receive 21% of Amsa – a stake worth between R7bn and R9bn.
– Sake24
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