Proactive Investors - Run By Investors For Investors

Bushveld Minerals completes tin division spin off

Bushveld will retain a 17.5% stake with a further 24.4% to be distributed to shareholders
picture of electric car
Electric cars are expected to boost demand for tin

Bushveld Minerals Limited’s (LON:BMN) tin assets started trading separately today after AfriTin Mining Limited was admitted to AIM.

Now focused more on vanadium, Bushveld will retain a 17.5% stake with a further 24.4% to be distributed to shareholders.

READ: Bushveld Minerals and Bushveld shareholders to own roughly 41.9% of AfriTin Mining when it lists

Anthony Viljoen will be AfriTin’s chief executive and stands down as an executive director at Bushveld though remain a non-exec.

AfriTin Mining is valued at £2mln at the issue price of 3.9p. 

READ: Bushveld Minerals updates resource estimates at Mokopane tin project ahead of demerger

Fortune Mojapelo, Bushveld Minerals’s chief executive,  said: "With this milestone, we have fulfilled our promise to shareholders to develop the necessary critical-mass for a stand-alone tin company with a near-term production profile and a perfect opportunity to grow into the African tin champion.

"We are delighted to have AfriTin listed on the AIM Market. As a substantial and committed shareholder, Bushveld will remain supportive of AfriTin. "

View full BMN profile View Profile

Bushveld Minerals Limited Timeline

Related Articles

silica sand
October 02 2018
Silica sand is a strong growth mineral due to the demand by the construction sector where it is used in the manufacture of flat glass for windows.
1539224776_757z468_1533684708_ERM-NSW-projects.jpg
October 11 2018
The company has increased its tenure in the region as the potential for prospectivity grows.
1541778730_rsz_shutterstock_325392962.jpg
November 09 2018
Barsele Minerals trades on the Toronto venture exchange and is focused on mining-friendly Sweden

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use