Building materials company Afrimat acquires 25% shareholding in Coza Mining

SOUTH AFRICA – ArcelorMittal South Africa (AMSA), a steel producer, has reached an agreement to sell its 25% shareholding in Coza Mining, held through subsidiary Oakwood Trading, to Afrimat, a Building materials and industrial minerals group for R300 million (US$17.21m), in an effort to grow its footprint in the Northern Cape. Coza’s principal activities are exploring and prospecting for iron ore and manganese in the Northern Cape, and it is focused on three properties, Jenkins, Driehoekspan and Doornpan. Afrimat said the transaction allows it to secure high-quality iron ore close…

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