Acquisition

The due diligence on the Northern Cape Iron Ore mining project is complete, barring the final approval of the transaction by the Minister in terms of the Minerals and Petroleum Resources Development Act, No 28 of 2002. The proposed transaction outlines terms to acquire certain prospecting rights, which were renewed during the due diligence process, in the Northern Cape area, on which the group will then be able to start early-stage exploration activities. This is our first step in our drive to become more self-sufficient in iron ore.