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Mashudu Netsianda Senior Court Reporter
THE High Court has ordered Bulawayo businessman, Graeme Jansen van Vuuren to immediately return about $1,3 million worth of mining property he seized from Blackiynx Investments, a local gold mining company jointly owned by locals and South African shareholders.
The businessman has been locked in a legal wrangle with Blackiynx Investments and ZNK Investments CC, a South African company with shares in Baragon Trading (Pvt) Ltd over the control of the gold mine, Baragon in Fort Rixon.
Van Vuuren is a minority shareholder in Baragon (Pvt) Ltd and in ZNK Investments.
Bulawayo High Court judge Justice Martin Makonese last week dismissed the businessman’s application seeking an order interdicting Blackiynx Investment from carrying out mining activities at Baragon Trading.
The assets to be returned include mining claims and equipment.
The latest ruling comes a month after the businessman won the case at the High Court, but the judge reversed the ruling after, Blackiynx Investments, who were not cited in the initial case successfully challenged the ruling.
In court papers, Van Vuuren was cited as the applicant while ZNK Investment CC (Pvt) Ltd, Blackiynx Investments, M and M Intertrade Resources, a Mauritius-based company and one of its directors, Michael Horwitz were cited as the respondents.
“The applicant (Van Vuuren) be and is ordered to forthwith return all property to Blackiynx Investments that was seized in enforcement of a provisional order under HC 2462/15,” ruled Justice Makonese.
The judge said in the event that Van Vuuren fails to comply with the order within 48 hours, the Deputy Sheriff of the High Court is directed to seize the property and deliver it to Blackiynx Investments.
Van Vuuren was also ordered to pay the legal costs. ZNK Investments entered into an agreement of sale with Baragon Trading in August in Johannesburg to buy mining claims.
In terms of the pact, the parties agreed that upon the purchase of the mining claims they would be registered under Blackiynx Investments.
However, after learning about the sale, Van Vuuren rushed to the High Court to stop the imminent transfer of the gold claims and assets to ZNK Investments.
Justice Makonese ruled in favour of Van Vuuren and granted an order interdicting the transfer of the gold claims and assets to the South African company and also barred it from conducting any mining activities.
Van Vuuren then took control of the mining machinery and equipment.
The gold claims are part of more than $2 million gold claims in dispute between Van Vuuren and ZNK Investments.
The South African company bought the claims which are worth over $2 million for $650,000 from M and M Intertrade Resources (Pvt) Ltd, which has major shareholding in Baragon Pvt Ltd where Van Vuuren is a minority shareholder.
Horwitz reportedly sold the gold claims and other company assets to ZNK Investments in which he is said to have interests albeit without the authority of his employers and shareholders.
Baragon Pvt Ltd owns six mining claims under its six subsidiaries.
The matter is still pending before the courts where Van Vuuren is also seeking High Court permission to represent all the shareholders in terms of the law. Van Vuuren was represented by David Mhiribidi of Mutuso, Taruvinga and Mhiribidi Legal Practioners while Blackiynx Investments was represented by Tazorora Musarurwa, of Mambosasa Legal Practitioners.
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