Kropz impairs its delayed SA phosphate project by $49m
Kropz, in which Patrice Motsepe’s ARC is the controlling partner, again delays its phosphate project as test work reveals processing difficulties
12 September 2019 - 13:01
Kropz, a company intending to build a phosphate mine in SA’s Western Cape, has run into difficulties at its Elandsfontein project, resulting in it impairing the asset by $49m or R717m.
SA billionaire Patrice Motsepe’s African Rainbow Capital (ARC) holds 47% of Kropz and its directors “consider ARC to be the ultimate controlling party of the company”, according to its 2018 annual report...
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