Evraz Highveld looks to sell Mapochs mine for $10m
Integrated steel and vanadium slag producer Evraz Highveld Steel & Vanadium is seeking to sell its subsidiary Mapochs Mine for $10-million to a buyer that will facilitate the rescue of the Limpopo-based mine.
A number of preferred bidders were selected in July and due diligence would be finalised and closed by August 21.
The evaluation of received binding offers would be undertaken from August 24 to 27, with a successful bidder to be chosen on August 28.
The business rescue practitioners (BRPs) John Lightfoot and John Evans have also started negotiations with Vanchem Vanadium Products, which holds a 35% noneconomic interest in Mapochs, regarding the potential rescue of the subsidiary in the event that a sale of the group was not possible and Evraz Highveld could not be rescued.
To date, a large number of claims remained outstanding and creditors who had yet to submit their claims were encouraged to do so before the publication of the business rescue plan.
Total claims received to date amounted to about R177-million and were currently being reviewed by the BRPs and compared with Evraz Highveld’s ledger.
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