Evraz Highveld Bidders Granted One Week's Extension to Make Binding Offers

Mining Weekly reported that Evraz Highveld Steel and Vanadium has granted its potential bidders an extension for submission of binding offers, moving the initial deadline from August 21 to August 28.
As quoted in the market news:

The company as well as the associated Mapochs mine have been in business rescue since April and “several” potential bidders have paid the $10-million fee stipulated to gain access to the information required to complete a due diligence investigation.
While separate business rescue processes are under way for Evraz Highveld and Mapochs the bidders are expected to make a combined offer for both companies.
CEO Johan Burger tells Engineering News Online that the bidding process is one of several processes currently under way at the company, which is also engaging with its trade unions and with its creditors. The company has indicated, through a Section 189 notice, that as many as 1 089 of its 2 240 employees could be retrenched and there have since been three meetings with employee representatives on the restructuring plan.

Click here to read the full Mining Weekly report.