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Mokopane takeover sanctioned

14th June 2024

By: Marleny Arnoldi

Deputy Editor Online

     

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The Competition Commission has approved the acquisition by Southern Point Resources (SPR) Fund I of Mokopane, the holding company for a mining right in Limpopo.

SPR Fund I was established as an investment fund by the SPR group, based in London, for mining projects in Southern Africa, particularly green metal and transition metal projects.

SPR Fund I is acquiring Mokopane from Bushveld Resources – a subsidiary of Bushveld Minerals.

Mokopane’s mining right allows for the extraction of minerals including vanadium and titanium.

The transaction involves Bushveld selling its 64% interest in Mokopane to SPR Fund 1 for $3.7-million.

The Mokopane project is located on the central portion of the northern limb of the Bushveld Complex with resources and reserves of 298-million tonnes, grading from 1.6% to more than 2% vanadium oxide.

SPR Fund I’s acquisition of the interest in Mokopane forms part of a proposed package of interconditional transactions, which would provide a cumulative investment by SPR into Bushveld and its subsidiaries of about $70-million.

The companies also agreed that SPR will exclusively carry out all marketing and sales of vanadium product produced at Bushveld’s Vametco and Vanchem plants.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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