Afrimat set to acquire Unicorn’s anthracite as Demaneng pays off
The group’s Demaneng mine has been generating cash due to high iron ore prices
Building materials and industrial minerals group Afrimat, which has recently seen a healthy profit bump from its Demaneng iron ore mine, has set its sights on anthracite producer Unicorn Capital Partners.
Afrimat intends to issue about 3-million new shares, worth about R90m as of Tuesday morning, to acquire the shares in Unicorn it doesn’t already own. ..