NEWSBREAK: New investor approved to take over South Africa’s Andalusite Resources

By Davide Ghilotti
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...

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