Afrimat adds phosphate to its portfolio in R550m deal
Purchase of mining rights at the mothballed Glenover mine in will also give it access to rare-earth metals and vermiculite
Mining and construction materials group Afrimat has signed a R550m deal to buy Glenover Phosphate in Limpopo, the latest in a string of deals for a cash-generative group that is looking to diversify its revenue.
The deal, if fully exercised, will see Afrimat add phosphate, rare-earth elements and vermiculite to its growing mining portfolio. It is the second-biggest deal announced by the group to date, after the R650m purchase earlier in 2021 of the Gravenhage mining right in the Northern Cape, a long-life, near-development manganese resource...