Highveld unveils R540m empowerment deal for Mapochs mine

April 9, 2009

South Africa's second largest steel producer Highveld Steel & Vanadium unveiled a R540-million ($59,8-million) black economic-empowerment (BEE) transaction on Thursday that will result in Umnotho weSizwe taking a 26% interest in the Mapochs mine, in Mpumalanga.

The operation, which produces lumpy titaniferous magnetite ore and fines for use in steelmaking by Highveld and the production of vanadium products by Vanchem, was currently an independently managed division of Highveld.

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