- Write by:
-
Friday, May 29, 2020 - 4:05:11 PM
-
646 Visit
-
Print
Mining News Pro - Diversified miner Glencore has agreed to sell a 20.5% interest in Unicorn Chrome to a subsidiary of Merafe for R32.2-million.
The subsidiary, Merafe Ferrochrome and Mining, will gain access to Unicorn’s shareholding in a chrome concentrate producer that extracts chrome concentrate from a tailings stream in North West.
Merafe also considers Unicorn to be a valuable addition to its chrome interests.
The net asset value of Unicorn at the year ended February 29 was R21.2-million and it made a profit of R28.6-million for the year.
Merafe also confirms it has sufficient cash reserves to complete the acquisition and considers it as a long-term strategic investment that will place the company ahead of its peers from an operational perspective.
The acquisition is not subject to shareholder approval, but an independent professional expert from Tamela Holdings has confirmed that the terms of the acquisition are fair to shareholders.
Short Link:
https://www.miningnews.ir/En/News/537386
Trading of CME Group Inc.’s nearly three-year-old lithium hydroxide futures contract is soaring, with more funds ...
NextSource Materials has submitted an application to build a downstream battery anode facility (BAF) to process graphite ...
Northvolt AB is starting construction of a €5 billion ($5.4 billion) battery plant in northern Germany to supply ...
The latest UK sanctions on Russia are creating new faultlines across the global metals world, in the latest example of ...
Indigenous communities in northern Chile agreed to lift roadblocks that have restricted access to the country’s giant ...
Mining News Pro - Canadian miner American Lithium said on Wednesday that the estimated value of its Falchani lithium ...
Mining News Pro - As the auto industry grapples with how to make affordable EVs, the task may get easier by one key ...
Mining News Pro - The former co-CEO of Sigma Lithium, a leader in Brazil’s budding lithium sector, was fired earlier ...
Mining News Pro - Tivan Ltd. has signed a long-term deal with the Australian government’s science agency in a bid to ...
No comments have been posted yet ...