Metallon Corporation, a gold mining group owned by Mzi Khumalo, one of South Africa’s most prominent mining entrepreneurs, has reportedly filed for business rescue for two of its subsidiaries, Goldfields of Mazowe Limited and Goldfields of Shamva Limited, in order to protect the companies’ assets from being seized by creditors. The Business rescue process, as established by the South African Companies Act 2008, provides a company experiencing financial distress with an opportunity to restructure its operational model and improve cash flow by offering a temporary suspension on legal actions or liquidation measures ... (full story)