French conglomerate Imerys and Greek perlite producer S&B Industrial Minerals have been tipped as the most likely buyers of Palabora Mining Co.
London-based mining groups Rio Tinto and Anglo American announced last week that they had decided to sell their respective 57.7% and 16.8% stakes in Palabora, the world’s largest producer of vermiculite.
Palabora’s main operation is a copper mine in the Limpopo province, South Africa, although the group also extracts vermiculite in a separate pit.
Since Rio Tinto and Anglo American’s announcements, industry sources have speculated as to whether Palabora’s vermiculite resource will be acquired along with, or separate to, its copper operation.
“The only possible buyers would be Imerys, which owns a mine in Zimbabwe, or Greek perlite miners S&B,” one vermiculite producer told IM....