Roskill: Vanadium - Evraz to sell Highveld?
LONDON, April 2, 2013 /PRNewswire/ --
Last week, EVRAZ signed a non-binding agreement for the proposed sale of its 85% stake in EVRAZ Highveld Steel and Vanadium Limited to Nemascore Ltd, a black economic empowerment consortium, for approximately US$320 million. The transaction could be completed during Q2 2013.
EVRAZ Highveld is a vertically integrated steel and vanadium slag producer in South Africa. The company mines titaniferous magnetite ore at its Mapochs mine and produces iron and steel products and vanadium-bearing slag at its steelworks in Mpumalanga.
As detailed in Roskill's new vanadium report, EVRAZ's acquisition of Highveld was approved only on the condition that the company divest an equity interest in the Mapochs mine, together with Highveld's finished vanadium products activities. Production in South Africa is therefore complex and this sale could have major implications for refined producers. Companies that could be affected include Vanchem Vanadium Products (South Africa) and Treibacher Industrie (Austria), which process Highveld slags to make vanadium products.
Note to editors
The report contains 253 pages, 130 tables and 82 figures. It provides a detailed review of the industry, with subsections on the activities of the leading producing companies. It also analyses consumption, trade and prices.
Vanadium: Global Industry Markets and Outlook (13th edition) is available at a £3800 / US$6100 / €4800 from Roskill Information Services Ltd, 54 Russell Road, London SW19 1QL ENGLAND.
SOURCE Roskill Information Services