[miningmx.com] – SOUTH African newspaper, Business Day, said it had launched an application in the courts to obtain forensic information relating to the collapse in 2010 of Alliance Mining, a JSE-listed company chaired by Mathews Phosa, treasurer-general of the ANC.
The collapse of the company came soon after it received a R120m loan from the Industrial Development Corporation, said Business Day which added that the liquidation of Alliance Mining was after it had overstated profits by at least R230m.
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