REGULATORY UNCERTAINTY
Sepfluor seeks to assure banks that new project is safe
The aspiring fluorspar producer reduces risk amid ongoing regulatory uncertainty
Privately owned Sepfluor, an aspiring fluorspar producer, has reduced risk at its R1.7bn mining and concentrating project, which is due to come into production in 2018, assuring three bankers of the viability of the latest addition to the global fluorspar market in an uncertain regulatory environment in SA. One of the key risks to the project is regulatory uncertainty. The Department of Mineral Resources provoked litigation from the Chamber of Mines by imposing a contentious third iteration of the Mining Charter on the industry in June. Nedbank as well as Dutch and German development banks were the project’s key lenders and needed much reassurance that the investment in a new mining project in SA was safe, said CEO Rob Wagner. They wanted assurances that Sepfluor had contracts in place, Wagner said.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.