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Primary vanadium producer Bushveld Minerals said it had received approval from the Competition Commission of South Africa to acquire the Vanchem assets.
'The transaction remains on track to be completed on 31 October 2019 and we expect the outstanding conditions precedent, being the cession of specific commercial agreements and South African Reserve Bank approval, to be satisfied,' the company said.
On 1 May 2019, Bushveld announced a conditional agreement to acquire the Vanchem assets, including the Vanchem Vanadium plant, the ferrovanadium production business of SAJV as a going concern, and a 100% of the outstanding shares of Ivanti Resources, a subsidiary of Duferco Participations Holding S.A.
At 8:38am: (LON:BMN) Bushveld Minerals share price was +1.25p at 23p