Under the new leadership of Ian Harebottle as CE designate, a privately held company called Kropz will use its nearly completed Elandsfontein phosphate mine in the Western Cape to launch a broader African strategy in plant nutrient minerals, starting with a possible purchase in Ghana. Harebottle worked closely with Michael Nunn, the 70% owner of Kropz, at Afgem, which was later called Tanzanite One. Harebottle said on Tuesday that as a condition of his joining, he had demanded the new company agree to broaden its asset base into Africa and not rely on just the Elandsfontein mine, which has come up against stiff headwinds from environmentalists concerned about its effect on the Langebaan lagoon on the West Coast. Kropz has suspended Elandsfontein, in which it has invested $120m, citing low phosphate prices, which declined to a 10-year low during 2017, and a temporarily suspended water use licence. Using this delay, Kropz management has revisited the design of its plant and has made a...
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.