Limpopo Economic Development Agency v Klopper NO & 10 Others (982/2020)
Limpopo Economic Development Agency v Klopper NO & 10 Others (982/2020) [2022] ZASCA 73 (25 May 2022)
The majority held that clause 17 of DCM's mining right did not grant the appellant a 40% stake in the mining right itself. The clause, though poorly drafted, referred to the shareholders agreement between LEDA and EAMI regarding ASA Metals (Pty) Ltd, not DCM's mining right. The Minister had no lawful authority to arbitrarily grant a stake in the mining right to anyone other than the holder, and the appellant's interpretation would produce an illegal result. The appellant only held a 40% shareholding in ASA, which could be diluted in favour of an empowerment shareholder as contemplated by the…
Source excerpt
- Mining Right Conversion
- Shareholders Agreement Interpretation
- Black Economic Empowerment
- Ministerial Conditions
- Business Rescue
- Statutory Interpretation