South African mining executive Daphne Mashile-Nkosi has suffered another court setback in a six-year battle over approximately $530 million (R8.5 billion) in debt tied to one of the world’s largest manganese deposits.
South Africa’s Supreme Court of Appeal struck from the roll an application brought by Kalagadi Manganese and related companies seeking reconsideration of an earlier refusal of permission to appeal.
The court also ordered Kalagadi and its co-applicants to pay the legal costs incurred by the state-owned Industrial Development Corporation.
Mashile-Nkosi, who has been described as South Africa’s “manganese queen”, leads the black women-founded mining company and effectively controls its majority shareholder.
A fight over who authorised business rescue
