Thakadu CEO Ruli Diseko and ChromeTech CEO Craig Bennett
JOHANNESBURG (miningweekly.com) – New-generation beneficiation and trading company Thakadu Resources has acquired a 26% stake in fully integrated mine-to-market chrome producer ChromTech for R52-million.
The deal has bolstered ChromeTech’s black economic empowerment ownership and enabled an immediate injection into ChromTech’s project pipeline.
ChromTech, which has built five upper group 2 chrome recovery plants since its inception in 2006, currently produces and markets about 250 000 t of chrome ore a year.
The group, led by founder and CEO Craig Bennett, is now constructing a chrome recovery plant as part of platinum producer Lonmin’s bulk tailings treatment project, with commissioning and ramp up to full production expected during the 2018 financial year.
The group secured R250-million in funding on the back of the project.
“The next one to two years will see the business activities of our two companies gaining momentum,” said Thakadu CEO Ruli Diseko.
Diseko established the firm in 2015 to invest in beneficiation plants to produce and trade higher value products.