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Africa|Mining|PROJECT|Projects|Resources
africa|mining|project|projects|resources

Commission approves Southern Point Resources’ Mokopane takeover from Bushveld

30th May 2024

By: Marleny Arnoldi

Deputy Editor Online

     

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The Competition Commission has approved the acquisition by Southern Point Resources (SPR) Fund I of Mokopane, the holding company for a mining right in South Africa’s Limpopo province.

SPR Fund I was established as an investment fund by the SPR group, based in London, for mining projects in Southern Africa, particularly green metals and transition metals.

SPR Fund I is acquiring Mokopane from Bushveld Resources – a subsidiary of Bushveld Minerals.

Mokopane’s mining right allows for the extraction of minerals including vanadium and titanium.

The transaction involves Bushveld selling its 64% interest in Mokopane to SPR Fund 1 for $3.7-million.

The Mokopane project is located on the central portion of the northern limb of the Bushveld Complex with resources and reserves of 298-million tonnes, grading from 1.6% to more than 2% vanadium oxide.

SPR Fund I’s acquisition of the interest in Mokopane forms part of a proposed package of interconditional transactions, which would provide a cumulative investment by SPR into Bushveld and its subsidiaries of about $70-million.

The companies also agreed to a sale and marketing agreement whereby SPR will carry out all marketing and sales of vanadium product produced at Bushveld’s Vametco and Vanchem plants on an exclusive basis.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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