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MRA yet to decide on Tolukuma Mine

The Mineral Resources Authority has said that it hasn’t decided yet who will operate the Tolukuma gold mine in Central and the new deal on ownership. According to Managing Director Jerry Garry, the government was still waiting for updates from Pini Accountants and Advisor, the mine’s liquidator, which was anticipated to sell the property and pay the credits K15 million.

“We have no updates from the liquidator,” Garry said. “Pini Accountants and Advisors was supposed to sell the property.”

Last July, the liquidator proposed for sale by public tender Mining Lease 104 and other assets, and also said that the sale was on a strictly “as is where is basis”. The liquidator said that the sale is composed of existing and pending tenements and assets such as plant and equipment, machines, buildings and motor vehicles at a mine site in Central.

Garry said that he knew that the National Court had placed the mine into liquidation on Feb 7, 2018. He added that the same court ordered the mine to pay IPI Catering and Hevi Lift Ltd costs and incidentals of the proceedings, due to money that the mine owed them.

“Andrew Pini of Pini Accountants and Advisors was appointed by the same court as the liquidator,” he said. “From the date of the court order to the date of sales, Tolukuma Gold Mine shall continue to be fully subjected to the Companies Act.”

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