Why a bidding war has erupted over Mupane

Friday, August 22, 2025 | 520 Views |

Better days: Mupane looks set to reopen once an agreement is reached on the takeover partner PIC: MINING.COM

Creditors will meet no Tuesday to weigh three offers for the takeover of Mupane Gold Mine, a process that has become highly contested. By global classifications, the country’s sole gold mine is a small operation with limited reserves, so why the bidding war? MBONGENI MGUNI writes

On August 26, bidders lock horns on whose offer is the best to take over Mupane Gold Mine, the country’s sole gold operation where operations have been suspended since March 2024.

According to documents circulating recently, of the ten companies that responded to the liquidator’s Request for Offer in June, just three paid the refundable P1 million deposit.

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Why a bidding war has erupted over Mupane

Creditors will meet no Tuesday to weigh three offers for the takeover of Mupane Gold Mine, a process that has become highly contested. By global classifications, the country’s sole gold mine is a small operation with limited reserves, so why the bidding war? MBONGENI MGUNI writes