Marsfontein.
Dear Everybody,
I have noted the references to Marsfontein on this and other sites.
The mists of time appear to have somewhat clouded the story of this property particularly the percentage ownership of it.
I asked a friend in South Africa to look into this matter and he has replied with a four page history which, apart from containing confidential information, is too long to quote on this site.
The most important point is that SouthernEra never owned more than fifty per cent of Marsfontein, the remainder was held by Randgold, SUF's joint venture partner at the time.
The subsequent appearance of the mineral right heirs, backed by De Beers, resulted in the then Minister of Mineral and Energy ruling in favour of the heirs and awarding the farm's mineral rights to De Beers.
Fortunately Dr Jennings, without the backing of Randgold, did not accept that decision and a mediator was appointed after a lengthy personal discussion with the Minister.
Following a series of ruthless meetings with De Beers Dr Jennings, assisted by his wife, Jeanne, negotiated its way back from a zero interest to forty per cent of the project.
I should add that the Dr Jennings is the first person, to my knowledge, to have succesfully resisted an attack by De Beers and it appears that he has not received any credit for this outside of South Africa. Even within De Beers there is considerable respect for Dr Jennings and his wife's tenacity and for the fight they put up.
With best wishes,
Crudestope. |
