Hong Kong-listed Taung Gold International and Siyakhula Sonke Empowerment Corporation (SSC) have, as shareholders in a new company (Newco), made a conditional, binding offer to acquire the Lily and Barbrook mines, in Mpumalanga.
The offer, made to the business rescue practitioners (BRPs) of the mine owners Vantage Goldfields South Africa, follows after a lengthy dispute between SSC and Vantage around a sale of shares agreement.