Chrometco unveils new directions to add value
Chrometco Limited until now a chrome explorer/miner with a single asset, the Rooderand chrome mine – is repositioning itself to move additionally into platinum group metals (PGMs) and other bulk commodities in South Africa, with the objective to add value for investors.
Undaunted – indeed, motivated – by the current global downturn in the chrome and PGM markets, Chrometco is poised to acquire from Nkwe Platinum Limited (Nkwe), in an all-share transaction, the PGM rights to the Rooderand asset – complete with exploration data. It expects this to give it a solid foothold in the PGMs space.
Chrometco shareholders vote on the proposed acquisition next month.
Chrometco Managing Director Petrus Cilliers describes Rooderand’s location – on the Western Limb of the Bushveld Igneous Complex, with the likes of Platmin Limited and Platinum Australia Limited as neighbours – as a “prime chrome/PGM neighbourhood”.