The R250-million defamation lawsuit filed by Liberty Coal against Mantengu Limited, its former chief executive Mike Miller, and executive Jill Hills remains before the court, presenting another significant legal challenge for the JSE-listed mining company as it faces losses, a qualified audit opinion, and uncertainty regarding its financial future.
Liberty Coal confirmed on Friday that its defamation action in the Gauteng High Court in Pretoria remains pending.
The company said it was pursuing damages of R250-million, alongside a final interdict preventing further allegedly defamatory statements and a punitive costs order.
“Liberty Coal’s defamation action against Mantengu, Mr Miller and Ms Hills… continues. The claim is for damages in the sum of R250-million, an interim interdict… restraining the defendants from publishing further defamatory statements concerning Liberty Coal, and costs on the attorney-and-client scale. The matter remains before the court for substantive determination,” the company said.
Share price manipulation claims
The litigation stems from statements issued by Mantengu during 2025 in which the company alleged that its share price had been manipulated by external parties in an attempt to derail its acquisition of the Blue Ridge Platinum Mine.
Liberty Coal has consistently denied the allegations and, in its latest statement, argued that developments over the past year had vindicated its position.
It cited the Financial Sector Conduct Authority’s finding that it had uncovered no evidence of share-price manipulation, the Johannesburg Stock Exchange’s public censure of Mantengu over announcements it described as “speculative, unverified and unsupported”, and a High Court judgement critical of Mantengu’s litigation conduct.
‘Mantengu under severe strain’
Liberty Coal further argued that Mantengu’s own latest audited financial statements reflected a company under severe strain.
The miner highlighted the negative audit opinion, concerns about the company’s ability to keep operating, issues reported to the Independent Regulatory Board for Auditors, and a significant decline in its financial performance.
The significance of the pending R250-million claim lies not only in its size but also in the context of Mantengu’s latest financial position.
For the year ended February 2026, the company reported a loss of R315.2-million after recording a profit of R303.3-million a year earlier.
Net asset value per share fell from 178 cents to 71 cents, while operating performance swung from a R3.9 million profit to a R258.6-million operating loss.
The auditors also pointed out serious concerns about the group’s ability to keep operating, mentioning that its current debts were
R283-million more than its current assets and emphasising the group’s yearly loss as reasons for this doubt.
‘Mantengu not in trouble’
Mantengu’s board, however, rejected that assessment.
In its results announcement, it said it had “no doubt whatsoever” about the group’s ability to continue operating and argued that the 2026 financial year had been distorted by several once-off events that were not expected to recur.
The company also dismissed suggestions that its business was collapsing.
New chief executive Magen Naidoo said claims that Mantengu had been ruined amounted to “a delusional fantasy”, insisting the company continued to attract interest from blue-chip international investors interested in buying stakes in the business and purchasing its products.
He further urged shareholders not to make investment decisions based on Liberty Coal’s public statements, saying they reflected only one side of an ongoing legal dispute.
The outcome of the defamation proceedings is still to be decided by the High Court. Neither Liberty Coal’s allegations nor Mantengu’s denials have been tested at trial.
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- The R250-million defamation lawsuit filed by Liberty Coal against Mantengu Limited, its former chief executive Mike Miller, and executive Jill Hills remains before the court, presenting another significant legal challenge for the JSE-listed mining company as it faces losses, a qualified audit opinion, and uncertainty regarding its financial future.
- Liberty Coal confirmed on Friday that its defamation action in the Gauteng High Court in Pretoria remains pending.
- The company said it was pursuing damages of R250-million, alongside a final interdict preventing further allegedly defamatory statements and a punitive costs order.
- “Liberty Coal’s defamation action against Mantengu, Mr Miller and Ms Hills… continues.
- The claim is for damages in the sum of R250-million, an interim interdict… restraining the defendants from publishing further defamatory statements concerning Liberty Coal, and costs on the attorney-and-client scale.
Liberty Coal confirmed on Friday that its defamation action in the
"Liberty Coal's defamation action against
Liberty Coal has consistently denied the allegations and, in its latest statement, argued that developments over the past year had vindicated its position.
It cited the Financial Sector
Liberty Coal further argued that
For the year ended February 2026, the company reported a loss of R315.2-million after recording a profit of R303.3-million a year earlier.
Net asset value per share fell from 178 cents to 71 cents, while operating performance swung from a R3.9 million profit to a R258.6-million operating loss.
R283-million more than its current assets and emphasising the group's yearly loss as reasons for this doubt.
In its results announcement, it said it had "no doubt whatsoever" about the group's ability to continue operating and argued that the 2026 financial year had been distorted by several once-off events that were not expected to recur.
New chief executive Magen Naidoo said claims that
He further urged shareholders not to make investment decisions based on Liberty Coal's public statements, saying they reflected only one side of an ongoing legal dispute.
Visit SW YouTube Channel for our video content
