Mupane mine creditors to wait longer for dues :: Mmegi Online

The High Court in Lobatse has granted Ulsan Botswana’s urgent application to interdict the sale of Mupane Gold Mine assets, effectively putting on hold any contracts, execution, or transfers tied to the takeover by Nova Africa / AgaOne pending the outcome of full review proceedings. The move means creditors owed around P300 million will have to wait longer for their dues.

The order delivered this week by Justice Reuben Lekorwe prohibits the liquidator Kopanang Thekiso, the Master of the High Court, the Attorney General, Nova Africa/AgaOne joint venture, and the Minister of Minerals & Energy from concluding or executing any sale agreement, from transferring mining licences, or from shifting rehabilitation liability from Mupane until the court has resolved the pending review application.

Mupane was placed under provisional liquidation in November 2024, and a final liquidation order followed in February 2025. The liquidator, duly authorized by creditor resolution, invited proposals through a Request for Offers (RFO) process with strict timelines, including a refundable P1 million deposit and deadlines for submission and compliance with detailed terms.

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