ARM concludes R450m Dwarsrivier stake sale to Assore
JOHANNESBURG (miningweekly.com) – Diversified miner African Rainbow Minerals (ARM) has completed the R450-million sale of its 50% indirect interest in the Dwarsrivier chrome mine to joint venture (JV) partner Assore.
The Dwarsrivier mine was owned by Assmang, a JV in which ARM and Assore previously each owned a 50% interest.
All conditions precedent to the deal have now been met.
As part of the deal, Assore will refund Assmang about R55-million for additional funding advanced to Dwarsrivier’s operations by Assmang between July 1, 2014, and June 30.
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