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Zaaiplaats acquisitions extended for six weeks

22nd May 2014

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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JOHANNESBURG (miningweekly.com) – The acquisition of the Zaaiplaats tin tailings dump, in the Bushveld Complex, has been extended for another six weeks to enable potential buyer Aim-listed Bushveld Minerals to complete an evaluation on the commercial viability of processing the dumps.

Bushveld Minerals in March agreed to buy 87% of Zaaiplaats for R10-million, but the deal was conditional on the outcome of technical due diligence and the evaluation of the Zaaiplaats dumps, which were to be undertaken by Bushveld over a two-month period, starting March 20.

On Thursday, the mineral development company and Zaaiplaats owners Brent Trust and Sephaku Tin agreed to delay the technical due diligence and evaluation period to June 30.

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Edited by Creamer Media Reporter

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