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On March 29, 2023, Ironveld Plc announced that the acquisition of Ferrochrome Furnaces (Pty) Ltd ("FCF") by its subsidiary, Ironveld Smelting (Pty) Ltd, is now unconditional in all respects. FCF will be taken out of Business Rescue in the coming days, and the transaction will close in accordance with its terms.
| Date | 29 Mar 2023 |
| Time | 10:00:03 |
| Category | Acquisitions and alliances |
| ID | 6019U |
Ironveld Plc
("Ironveld" or the "Company")
Acquisition Unconditional
Ironveld announces that the acquisition of Ferrochrome Furnaces (Pty) Ltd ("FCF") by its subsidiary Ironveld Smelting (Pty) Ltd is now unconditional in all respects. FCF will, in accordance with the Companies Act of South Africa, be taken out of Business Rescue in the coming days and the transaction will close in accordance with its terms.
For further information, please contact:
|
Ironveld plc Martin Eales, Chief Executive Officer |
c/o BlytheRay 020 7138 3204
|
|
finnCap (Nomad and Broker) Christopher Raggett Charlie Beeson
|
020 7220 0500
|
|
Turner Pope (Joint Broker) Andy Thacker James Pope
|
020 3657 0050 |
|
BlytheRay Megan Ray Tim Blythe
|
020 7138 3204 |
NOTES TO EDITORS
Ironveld (IRON.LN) is the owner of Mining Rights over approximately 28 kilometres of outcropping Bushveld magnetite with a SAMREC compliant ore resource of some 56 million tons of ore grading 1,12% V2O5, 68,6% Fe2O3 and 14,7% TiO2.
In 2022 Ironveld agreed to acquire and refurbish a smelter facility in Rustenburg, South Africa, in which it can process its magnetite ore into the marketable products of high purity iron, titanium slag and vanadium slag.
Ironveld is an AIM traded company. For further information on Ironveld please refer to www.ironveld.com.