Kalagadi Manganese fights to stay out of bankruptcy and arbitration By alanpatrickryan on June 4, 2025 - Kalagadi Manganese, headed by Daphne-Mashile-Nkosi, keeps sinking deeper in legal problems and swimming in debt. The company has continued to oppose the debtors, the IDC, AfDB and Absa, from putting the company into bankruptcy. Now Kalagadi is fighting the lenders attempt to arbitrate the matter. The company’s initial debt was at least ZAR7-billion and that has increased to about ZAR8.5-billion due accrued interest. The IDC, which is a parastatal company, lent money to South African start up has a 20% interest in Kalagadi, and it is owned ZAR3-billion along with AfBD. Absa is also owned nearly ZAR1-billion. “It has a good deposit, owning mineral rights holding over 950-million mt manganese ore, but it has been mismanaged from the start,” one analyst opined. "No one wants to be a minority shareholder but the only interest is being the majority owner.”Kalagadi is expected to drag it out by appealing.
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