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Ironveld mining right application submitted

By BFN News | 07:39 AM | Thursday 26 March, 2015


Ironveld has announced that the application for the mining right on farms Nonnewerth, LaPucella and Altona for the mining of iron ore by Pan Palladium (Pty) Ltd, a wholly owned subsidiary of Sylvania Platinum Limited has been accepted by the Department of Mineral Resources ("DMR"). The submission was made in accordance with the terms of the agreement dated 14 March 2012 for the acquisition by Mercury Recycling Group plc (now Ironveld plc) of the Ironveld Group from Sylvania. On granting of the mining right Pan Palladium will transfer the mining right, via the Section 11 process, to HW Iron (Proprietary) Limited, a subsidiary of Ironveld plc. A decision by the DMR on the application is expected in the second half of 2015. Story provided by StockMarketWire.com

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