Rockwell in liquidation bid as audit uncovers irregular deals

(miningmx.com) - Rockwell Diamonds has suspended operations at its Wouterspan plant in South Africa’s Northern Cape following a contract dispute with a mining contractor that has subsequently applied for the liquidation of Rockwell subsidiary companies. The mining contractor – C-Rock Mining (CML) – has also filed for a “spoliation order” which, if granted by the court, sees certain equipment returned to it immediately from Rockwell’s premises. Furthermore, Rockwell said that an independent forensic study of contracts involving its subsidiaries and CML had uncovered a string of irregular transactions involving one of its senior managers, whose name was not disclosed. This latest news compounds a terrible period for Rockwell which in September saw its CEO of five years standing, James Campbell, resign from the company.