JOHANNESBURG (miningweekly.com) – Shareholders of Aim-listed diversified mineral development company Bushveld Minerals have approved the demerger of the company’s tin assets.
Bushveld earlier this month revealed its plans to demerge its tin assets, comprising the Mokopane tin and Zaaiplaats tin tailings projects in South Africa, and the Uis tin project, in Namibia, and to list AfriTin Mining, which will house the assets, on the Aim.
The listing will enable it to raise equity capital to acquire the remaining 50.5% interest in Dawnmin, which indirectly owns 85% of the Uis project.
Bushveld will retain a 15% shareholding in AfriTin, which will be headed up by CEO Anthony Viljoen.