South African miner Pan African Resources plc (LON:PAF) has reached agreement with Samancor Chrome over a tailings treatment deal for subsidiary Phoenix Platinum.
Phoenix originally had an agreement for feedstock, water and power with International Ferro Metals, which has gone into administration. Samancor, through subsidiary TC Smelters, took on the business and assets of IFM.
Phoenix is now in a position to continue to operate under similar terms to its deal with IFM, though the feedstock supply arrangements may change.