NEWSBREAK: New investor approved to take over South Africa’s Andalusite Resources
Published: Thursday, 14 January 2021
South African andalusite miner Andalusite Resources will be taken over by a local mining consortium, paving the way for the company to exit business rescue status and secure its position as a supplier of the mineral, Fastmarkets has learned.
ARM Andalusite (Proprietary) Ltd, a privately
owned South Africa-based corporation active in the mining
sector, has had its bid accepted following a meeting in
December at which Andalusite Resources’ creditors,
shareholders and management voted to choose one of two bidding
proposals - the other was from miner Afrimat - they had...