Northam receives section 102 consent for the acquisition of a portion of the amandelbult mining right
- Published on 25 August 2017
Northam shareholders are referred to the announcement released on 11 October 2016 in respect of, inter alia, the acquisition by Northam of a portion of the Amandelbult mining right, contiguous with the north western boundary of Northam’s Zondereinde mine, for a cash consideration of R1 billion (the “transaction”).
Northam is pleased to announce that it has received consent from the Minister of Mineral Resources in terms of section 102 of the Mineral and Petroleum Resources Development Act, No. 28 of 2002 for the resource acquisition. The section 102 consent fulfils one of the key conditions precedent to the transaction.
Paul Dunne, Northam’s Chief Executive Officer, said “Northam is pleased to have achieved this significant milestone and looks forward to concluding the transaction in due course.”
25 August 2017
Corporate Advisor, Sponsor and Debt Sponsor: One Capital
Attorneys: Cliffe Dekker Hofmeyr Inc.