The dispute over the sale of Mupane Gold Mining (Pty) Ltd’s assets, following its liquidation in February 2025, has advanced after the Court of Appeal rejected Ulsan Botswana’s attempt to halt the case.
The liquidation process involved a structured and transparent sale, using a secure data room, external experts, and strict bidding rules.
Of the three serious offers received, creditors voted on 26 August 2025 in favor of the Nova Africa–Agaone Joint Venture.
Ulsan, opposing this outcome, secured a temporary High Court order to stop the sale. Ulsan then challenged the appeal's validity over technical document flaws, which the Court of Appeal dismissed, noting that such issues do not nullify an appeal unless formally contested and set aside.
The court stressed the need to focus on the substantive issue—whether the sale process was fair and lawful—clearing the way for a full hearing that will ultimately determine the rightful buyer of Mupane’s mining assets.