Sail to acquire 90% of Chrometco
JOHANNESBURG (miningweekly.com) – JSE-listed Chrometco has entered into conditional agreements with commodity trading company Sail Minerals that will result in Sail acquiring just less than 90% of Chrometco.
In return, Chrometco will receive cash, a controlling stake in two fully financed chrome projects and a stake in Sail.
Sail recently concluded the acquisition of two chrome assets on the eastern and western limbs of the Bushveld Igneous Complex.
Sail provided and will continue to provide all funding required for the development of both chrome projects.
Production is expected to begin imminently and the projects have the joint capability to produce up to one-million tons of high-grade chrome ore a year.
The combined transaction is still conditional upon Ministerial consent from the Department of Mineral Resources, the JSE, other regulatory bodies and shareholders.
By joining the respective strengths of Sail and Chrometco, as well as the potential of two chrome projects, the new entity will be well placed to become a significant player in the chrome market.
Chrometco will continue to update stakeholders via regular Stock Exchange News Service announcements.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation