https://www.miningweekly.com

Ferrum, BVI terminate Moonlight JV agreement

15th February 2017

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

     

Font size: - +

JOHANNESBURG (miningweekly.com) – Triple-listed Ferrum Crescent on Wednesday said the stalled farm-in and joint venture (JV) agreement between its Ferrum Iron Ore (FIO) subsidiary and Business Venture Investments (BVI) has been formally terminated.

The parties had, under the JV agreement, sought to develop Ferrum’s Moonlight iron-ore project, in Limpopo, but BVI failed to complete the first phase of the project’s bankable feasibility study (BFS).

In October 2015, BVI agreed to fund the BFS in return for a 43% stake in the project’s holding company FIO; however, in January 2016, Ferrum announced that the completion of the BFS had been extended to January, 2017, which BVI was again unable to complete.

Consequently, BVI has not earned any equity interest in FIO.

Ferrum Crescent is now considering its options in relation to the potential development of the Moonlight project.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.128 0.164s - 101pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: