Afrimat to bulk up mining interests with R650m manganese deal
Australia’s Aquila ends its messy association with SA after a decade-long legal battle to secure rights to the deposit
Building materials and mining group Afrimat has inked a R650m deal for a manganese mining right in the Northern Cape, marking the end of a protracted and bitter fight by Aquila Resources against the state to secure the prospect.
Afrimat, valued at R6.8bn on the JSE, will buy the Gravenhage mining right, a long-life near-development manganese resource that is about 50km north of Hotazel, and about 120km from the group’s existing Demaneng iron ore mine. ..