An application of the State-owned Industrial Development Corporation (IDC) to have mining company Kalagadi Manganese placed under business rescue is being opposed in the High Court Gauteng Local Division, Johannesburg. As a R3-billion creditor and 20% shareholder of the black women-led private company, IDC has asked the court to appoint Sibusiso Nduna and Piers Marsden as the joint interim business rescue practitioners under section 131(5) of the Companies Act, 2008.
