Mantengu refinances R130m in short-term debt
Mining investment company Mantengu Mining, which holds chrome and platinum group metals mining assets in South Africa, has successfully refinanced about R130-million in short-term debt that had been due for repayment at the end of February.
Mantengu's wholly owned subsidiaries, Langpan Mining and Sublime Technologies had entered into working capital facility agreements in the prior year, with the terms of these facilities requiring repayment 12 months from drawdown.
Langpan and Sublime entered into negotiations with a view to restructuring these facilities. Langpan's working capital facility has been converted into a long-term loan over a period of four years, while Sublime's working capital facility has been converted into a long-term loan over a period of three years.
"This refinancing by the lenders affirms the solid businesses of both Langpan and Sublime and will allow the group to use its excess cash to bolster mining operations in its chrome business segment. The group plans to add to its yellow machinery fleet to increase mining production and ultimately deliver an increased output of chrome in the 2027 financial year," the Mantengu board notes.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
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
















