Assets of troubled miner for sale

Johannesburg - The gold mining assets of failed junior miner Pamodzi Gold have been put up for sale, the provisional liquidators said on Tuesday in advertisements in the Business Day newspaper.

Pamodzi owns the assets and operated them until 2009, when it was placed in liquidation.

Pamodzi Gold Orkney's 1 to 7 shafts were part of a mature mining operation that historically produced 3 000 kg of gold per year with total mineral reserves and resources of 12.4 million ounces at last reporting in 2007, the liquidators said.

Pamodzi Gold East Rand's mining assets include an indicated resource base in excess of 4.8 million ounces of gold, the liquidators said.

Expressions of interest should be submitted by 5pm on June 30.

Standard Bank Group [JSE:SBK] is the adviser for the transaction.