Diversified mineral development company Bushveld Minerals, which has a Southern African portfolio of vanadium, tin, coal, titanium and iron-ore assets, is taking steps to demerge its tin assets into a standalone tin listing on the London Aim.
The principal tin assets of the Bushveld group are the Mokopane tin project and the Zaaiplaats tin tailings project, in South Africa, and the Uis Tin project, in Namibia.
AfriTin Mining, which will house Bushveld’s tin resources, has near-term production potential at Uis Tin.
The listing will facilitate the raising of equity capital for the acquisition of the remaining 50.5% of Dawnmin, which indirectly owns 85% of Uis Tin.
Bushveld will retain a 15% shareholding in AfriTin, which will be headed by CEO Anthony Viljoen, 40, who was instrumental in the development and listing on the Australian Stock Exchange of Lemur Resources, a coal project in Madagascar.
Bushveld shareholders, who must approve of the plan at a general meeting in Guernsey on October 20, will hold an equal number of AfriTin ordinary shares.
Having built a critical mass of in situ tin resources in South Africa and Namibia, the time is opportune for Bushveld to launch a dedicated tin platform, Bushveld CEO Fortune Mojapelo said in a release to Creamer Media’s Mining Weekly.