Mowana Mine faces liquidation over P47m debt
Tuesday, November 17, 2015
In an application to be heard by the Francistown High Court on Thursday, DP Botswana is seeking an urgent provisional order for winding-up of Messina Copper, which trades as African Copper.
A statement released by Diesel Power’s JSE-listed parent company, Buildmax says a provision against the debt is likely to affect the company’s 2016 financial results by up to R90 million. “DP Botswana’s current aggregated exposure to Messina Copper is approximately P47 million. As at the date of this announcement, the board of directors of Buildmax cannot reliably estimate the extent of any potential proceeds arising as a result of the liquidation proceedings.
The Ministry of Agriculture, local producers, retailers, and industry associations must work together to overcome the obstacles hindering vegetable production and distribution.This collaborative approach is essential to improve the availability, quality, and affordability of vegetables in the market.Firstly, the Ministry of Agriculture should provide support and guidance to local farmers to enhance their productivity and efficiency. This could...