https://www.engineeringnews.co.za
Africa|Business|Energy|Resources|Steel|Storage|Products
Africa|Business|Energy|Resources|Steel|Storage|Products
africa|business|energy|resources|steel|storage|products

Bushveld receives approval to acquire Vanchem assets

29th August 2019

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

Font size: - +

Aim-listed Bushveld Minerals says it has received approval from the Competition Commission of South Africa to acquire the Vanchem assets, without conditions.

The transaction currently remains on track to be completed by October 31, and the company is progressing the negotiations with local banks for a debt facility to supplement existing cash resources.

Bushveld CEO Fortune Mojapelo cited the commission’s approval as another key milestone for the company in closing the transaction.

He averred that the company remained on track to complete the transaction within the targeted timeframe, at which point Bushveld would have significantly increased its processing capacity.

This, he added, would give Bushveld “the ability to unlock even more of our . . . high-grade resource base and produce a diverse array of products for the steel market, the chemicals industry and the energy storage sector”.

The vanadium producer in May announced that it would acquire the primary vanadium processing assets of the Vanchem vanadium processing plant, the ferrovanadium production business of South African Japan Vanadium as a going concern, as well as 100% of the outstanding shares of Ivanti Resources.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 
Victaulic
Victaulic

Since 1919, Victaulic’s innovative solutions and design services continue to increase construction productivity and reduce risk, ensuring projects...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Economic growth a top priority for GNU
Economic growth a top priority for GNU
19th July 2024 By: Creamer Media Reporter
Magazine round up | 19 July 2024
Magazine round up | 19 July 2024
19th July 2024

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.411 0.496s - 193pq - 2rq
Subscribe Now