Authority yet to decide on new deal for Tolukuma mine

THE Mineral Resources Authority says a new deal on the ownership and who is to operate the Tolukuma gold mine in Central is yet to be disclosed.
Managing director Jerry Garry yesterday gave an update on the mine saying the Government was waiting for a feedback from the mine’s liquidator Pini Accountants and Advisors which was expected to sell the property and pay about K15 million owed to the creditors.
“We have no updates from the liquidator,” Garry said.
“Pini Accountants and Advisors was supposed to sell the property.”
Last July, the liquidator offered for sale by public tender Mining Lease 104 and other assets.
It stated that the sale was on a strictly “as is where is basis”.
It said the sale comprised existing tenements, pending tenement applications and assets including buildings, plant and equipment, machines and motor vehicles at mine site in Central. Garry said his office was aware that the mine had been put into liquidation by the National Court on Feb 7, 2018.
“Andrew Pini of Pini Accountants and Advisors was appointed by the same court as the liquidator,” he said. Garry said the same court ordered the Tolukuma mine to pay Hevi Lift Ltd and IPI Catering Services costs and incidentals of the proceedings, due to money owed to them by the mine.
“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,” he said.