BCI sells Iron Valley to MinRes for A$73m
Resources company BCI will sell the Iron Valley iron-ore mine, in the Pilbara, to Polaris Metals, a subsidiary of ASX-listed Mineral Resources (MinRes).
Iron Valley is currently operated by MinRes under a royalty-type agreement for the past decade.
BCI MD David Boshoff said that the proposed sale was a strategic decision that would raise A$60.1-million and a contingent A$12.5-million, enabling the company to focus on delivering its Mardie salt and potash project.
“BCI appreciates the successful partnership it has had with MinRes and welcomes the opportunity to sell the Iron Valley assets,” he said, wishing MinRes well for its future ownership of the mine.
Polaris will assume responsibility for payment of state and third-party royalties and rehabilitation obligations in relation to the Iron Valley mine with effect from May 1.
Subject to the receipt of Ministerial consent for the transfer of the Iron Valley tenements to Polaris, the transaction is expected to complete in early July.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation