Padenga banks on Eureka plant

15

PADENGA Holdings (Padenga) remains buoyant ― despite incurring a US$7 million loss during the six months to June 30, 2021― after finishing the rehabilitation of its flagship plant at Eureka Mine in July, which is expected to boost gold production.

Padenga grew by supplying crocodile skins to luxury brands in Europe, but mining is now its major business, accounting for 72 percent of revenue during the period under review.
In 2019, the company acquired a 50,1 percent stake in Dallaglio Investments, a mining company.