IDC accused of sabotage antics at Northern Cape-based mining company

An allegedly distressed mining debtor is questioning the motives of the state finance institution, which is pushing for business rescue.

The legal bid by the Industrial Development Corporation (IDC) to place Northern Cape-based mining company Kalagadi Manganese under business rescue has sparked a war of words and allegations that the development finance institution is undermining black empowerment and female economic empowerment.

Hailed as the first black female-owned and managed mining company in South Africa, Kalagadi, a level 3 broad-based black economic empowerment contributor, was founded in 2007 and operates a mine that boasts the largest sinter plant in the world.