CRG enters into MoU with Chinese mining machinery manufacturer
JOHANNESBURG (miningweekly.com) – Dual-listed Central Rand Gold (CRG) has entered into a memorandum of understanding (MoU) with China-based mining machinery manufacturer Zhejiang Golden Machinery Plant (ZGMP), establishing a framework for information sharing and collaboration between the companies.
In the short term, the partnership would focus on determining whether ZGMP could assist CRG in the upgrade and optimisation plan that was currently under way at its existing metallurgical plant, through potentially supplying the appropriate plant and machinery at a competitive price.
In the longer term, and once all the appropriate feasibility studies had been completed for a new mining target area, the parties would consider whether ZGMP could assist CRG in expediting the planning, design, engineering and construction of its above-ground plant.
“The signing of the MoU with ZGMP is an exciting progression in the development of CRG that complements the work that the company is undertaking to advance its ‘string of pearls’ strategy along the 40 km strike at the heart of the world-famous Witwatersrand goldfield,” CRG CE Johan du Toit said.
He added that the potential strategic partnership with ZGMP provided CRG with a strong platform to transform into an emerging midtier producer.
In terms of the MoU, should ZGMP ultimately provide CRG with any equipment or services, the company could elect to pay ZGMP through the issuance of shares in CRG rather than in cash, subject to the required shareholder approvals.
CRG noted that this option would have the benefit of reducing balance sheet strain, while aligning its interests with those of ZGMP.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
