Kalahari Resources Wants to Buy Out ArcelorMittal of Manganese Project

Mineweb reported that Kalahari Resources wants to buy ArcelorMittal out of a manganese project whereby both companies are shareholders.

As quoted in the market news:

The project is housed in a firm called Kalagadi Manganese‚ which is 50% owned by Arcelor‚ the parent of the local steel maker ArcelorMittal SA‚ and 40% by Kalahari. The Industrial Development Corporation owns the balance.

Daphne Mashile-Nkosi, Executive Chairwoman of Kalagadi, head of Kalahari said in a statement:

At some point we need to sit down and buy them out. I want them out. I started the project so I’m not leaving.

Click here to read more from Mineweb.

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