Evraz leaves South Africa
Evraz has agreed to sell 59% stake in the South African vanadium company Vametco for $ 17 million to local Bushveld Minerals. The deal is expected to be closed in June 2018, the consent of the co-owner of the asset - Japanese Sojitz (owns 15.9% Vametco) – will be required. Evraz still failed to sell another asset in South Africa - unprofitable Evraz Highveld Steel and Vanadium, and now it waits for the sale of its property. However, Evraz is not going to fully withdraw from the vanadium business.
Evraz of Roman Abramovich and partners may sell its stake in the vanadium company Vametco (South Africa) to consortium Bushveld Vametco Limited (BVL), in which 45% will belong to the local mining company Bushveld Minerals, 55% - to a resource fund Yellow Dragon, Bushveld reports. For a while BVL is wholly owned by Bushveld Minerals, but on Friday it announced the involvement of a partner in the project.
