Billionaire Patrice Motsepe’s African Rainbow Capital (ARC) Fund has extended a further R200m loan to emerging phosphate miner Kropz for the development of the Elandsfontein project, putting it in the home stretch with production set to begin in the first quarter of 2022 .
Kropz announced on Wednesday that it has entered into the new conditional convertible equity facility of up to R200m with ARC Fund to deliver Elandsfontein to first revenue. The loan facility, which is subject to shareholder approval, could boost the ARC Fund’s majority shareholding in Kropz International from 83.53% to 86.9%...
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