ARM buys out JV partner in Nkomati mine
South African diversified miner African Rainbow Minerals (ARM) has concluded an agreement to buy global nickel and palladium miner Norilsk Nickel Africa’s (NNAf’s) 50% interest in the joint venture (JV) Nkomati nickel mine, in Mpumalanga, for R1-million.
ARM will take over the environmental liabilities of the mine, together with NNAf’s proportionate share of the obligations and liabilities relating to the mine’s assets.
The agreement, in the form of a sale agreement, requires approval from the South African competition authorities and consent in terms of the Mineral and Petroleum Resources Development Act.
ARM expects the transaction to close in 2024, following which the existing JV partnership agreement between ARM and NNAf will terminate.
The Nkomati mine has been on care and maintenance since March 2021, with the status quo for the mine continuing to be challenging owing to uncertainties in the nickel sector and ongoing care-and-maintenance costs.
ARM maintains that Nkomati is a known and predictable nickel sulphide orebody with established infrastructure, a relatively low carbon footprint and short lead times to resuming steady-state production of class one compatible nickel sulphide production.
The mine also has attractive by-metal product credits including copper, cobalt, platinum, palladium and chrome.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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