REG - Bushveld Minerals Ld - CCSA Approval for sale of 64% interest in Mokopane

Bushveld MineralsAnnouncement

31/05/2024 16:15

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RNS Number : 7154Q  Bushveld Minerals Limited  31 May 2024

31 May 2024

Bushveld Minerals Limited

("Bushveld" or the "Company")

Competition Commission Approval for the sale of a 64% interest in Mokopane

 

Further to the Company's announcement on 15 December 2023, Bushveld Minerals
Limited (AIM: BMN), the integrated primary vanadium producer, is pleased to
announce that the Competition Commission of South Africa ("CCSA") has
unconditionally approved the proposed sale of Mokopane by SPR Fund I ("SPRF"),
represented by its general partner SPR GP1. Mokopane is controlled by Bushveld
Resources which is, in turn wholly owned by Bushveld Minerals. Mokopane is the
holder of the sole and exclusive mining rights to extract minerals, including
vanadium titanium. The CCSA is of the view that the proposed transaction is
unlikely to substantially lessen or prevent competition in any market and the
proposed transaction does not raise public interest concerns. The following
conditions precedent remain outstanding:

 

· SPRF having conducted a satisfactory confirmatory legal due diligence;

· Completion of the Vanchem acquisition by SPRF;

· Consent of the Minister of Mineral Resources and Energy to the change of
control of Mokopane in respect of each mining and prospecting licence.

 

 

Enquiries: info@bushveldminerals.com

 Bushveld Minerals Limited                                                                  +27 (0) 11 268 6555
 Craig Coltman, Chief Executive Officer

 SP Angel Corporate Finance LLP                       Nominated Adviser & Joint Broker      +44 (0) 20 3470 0470
 Richard Morrison / Charlie Bouverat
 Grant Barker / Richard Parlons

 Hannam and Partners                                  Joint Broker                          +44 (0) 20 7653 4000
 Andrew Chubb, Matt Hasson, Jay Ashfield

  Tavistock Communications                            Financial PR
 Gareth Tredway / Tara Vivian-Neal / James Whitaker                                         +44 (0) 207 920 3150

883504883504

 

 

ENDS

 

 

ABOUT BUSHVELD MINERALS LIMITED

Bushveld Minerals is a vertically integrated primary vanadium producer, it is
one of only three operating primary vanadium producers. In 2022, the Company
produced more than 3,800 mtV, representing approximately three per cent of the
global vanadium market. With a diversified vanadium product portfolio serving
the needs of the steel, energy and chemical sectors.

Detailed information on the Company and progress to date can be accessed on
the website www.bushveldminerals.com (http://www.bushveldminerals.com/)

 

 

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