Lonmin’s Bapo deal ‘in crisis’,21 Oct 2016 – Mail & Guardian, Business,

Lonmin's Bapo deal 'in crisis',21 Oct 2016 – Mail & Guardian, Business,

The.community fears the worst as the Bapo investment fund is sued for millions Fears are growing among the Bapo ba Mogale that the investment.company set up by the traditional council and Lonmin, in which the mining giant deposited millions of rands for their benefit, is close to financial ruin. The 40000strong.community is in the Rustenburg platinum belt, which includes Marikana. The investment.company created by the Lonmin empowerment deal, Bapo ba Mogale Investments (BBMI), is being sued by KMC Holdings for R30million. The.company alleges it has not been paid for nine months and that BBMI has illegally terminated its contract to transport ore. At least two other.companies claim BBMI owes them large amounts of money. Fearing that they will not be paid what is due to them if they go public, they asked not to be identified.

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