Afrimat acquires Gravenhage manganese mining right in South Africa
2021-05-24 14:19:20 [Print]
US-based Afrimat has announced its biggest acquisition to date, namely, the acquisition of the Gravenhage manganese mining right and associated assets in the Northern Cape.
Afrimat is purchasing the Gravenhage manganese mining right and associated assets from Aquila Steel (S Africa) and Rakana Consolidated Mines for a total purchase consideration of roughly R650 million.
Gravenhage is a long-life, near-development manganese resource situated in the northern part of the Kalahari Manganese field approximately 120km from Afrimat's existing Demaneng iron ore mine.
Afrimat said that there are many positives to the acquisition, the first being that the Group will be adding another commodity, i.e. manganese, to its diversification strategy within the Bulk Commodities segment of the business, the second being that this sizeable acquisition will propel Afrimat into the mid-tier mining space.
Afrimat is purchasing the Gravenhage manganese mining right and associated assets from Aquila Steel (S Africa) and Rakana Consolidated Mines for a total purchase consideration of roughly R650 million.
Gravenhage is a long-life, near-development manganese resource situated in the northern part of the Kalahari Manganese field approximately 120km from Afrimat's existing Demaneng iron ore mine.
Afrimat said that there are many positives to the acquisition, the first being that the Group will be adding another commodity, i.e. manganese, to its diversification strategy within the Bulk Commodities segment of the business, the second being that this sizeable acquisition will propel Afrimat into the mid-tier mining space.
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Unit:RMB/mtu
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