https://www.engineeringnews.co.za

Shaw River ups stake in Namibia manganese project

28th October 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Junior miner Shaw River Manganese said on Monday that it had increased its shareholding in the Otjozondu manganese project, in Namibia, from 75.5% to 84%.

The project’s minority shareholder, Oreport Holdings, has since 2011 elected not to fund its share of the project costs, and has now relinquished its rights to participate in the issue of new ordinary no-par value shares in the project’s holding company, Otjozondu Mining. As a result, Shaw River’s interest in the project has increased.

The company said that it planned to fund all forward expenditure at the manganese project by equity subscription through pro-rata offers of equity from the holding company.

Should Oreport not participate on future pro-rata offers, Shaw River would have the opportunity to further increase its interest in the holding company and the project.

“We believe the Otjo manganese project has the potential to be a lucrative operation for the company. Increasing our interest to 84% is a strong step forward for Shaw River,” said MD Peter Benjamin.

The project currently has a mineral resource of some 17-million tonnes, grading 22.5% manganese.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Industrial Nozzles & Systems (Pty) Ltd
Industrial Nozzles & Systems (Pty) Ltd

Industrial Nozzles & Systems (Pty) Ltd (Est. 2000) exclusive representative in Southern Africa for LECHLER GmbH (Est. 1879) - Europe's leading...

VISIT SHOWROOM 
ATI Systems
ATI Systems

ATI systems comprises five divisions: electrical assemblies, drives and controls, feedback sensors, enclosures, and strip guiding.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.05 1.044s - 140pq - 2rq
Subscribe Now