https://www.miningweekly.com

Richland confirms signing agreement, escrow payment for Tanzania assets

5th December 2014

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

Font size: - +

JOHANNESBURG (miningweekly.com) – Richland Resources on Friday announced the receipt of the signing consideration and the payment of an escrow amount as the $5.1-million sale of its tanzanite mining and beneficiation business and tsavorite licence interests in Tanzania to Sky Associates Group progressed.

The Aim-listed group received a $510 000 signing consideration – 10% of the initial consideration – from Sky, while a further $510 000 went into an escrow held by the company's solicitors payable on satisfaction of the various conditions in the sale agreement.

The sale remained subject to approval by shareholders, the Minister of Energy and Minerals of the Republic of Tanzania and the South African Reserve Bank.

To watch Creamer Media's latest video reports, click here
 

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Schauenburg SmartMine IoT
Schauenburg SmartMine IoT

SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...

VISIT SHOWROOM 
The Steel Tube Export Association of South Africa
Steel Tube Export Association of South Africa

The Steel Tube Export Association of South Africa was established to develop sustainable, internationally competitive carbon steel tube and pipe...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 09 October 2026
Magazine round up | 09 October 2026
9th October 2026

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:0.046 0.069s - 110pq - 2rq
Subscribe Now