In March, Russian steelmaker Evraz signed a non-binding agreement for the proposed sale of its 85% stake in Evraz Highveld Steel and Vanadium Ltd to Nemascore Ltd, a South African economic empowerment consortium, for approximately US$320M. The transaction could be completed during Q2 2013.
Evraz Highveld is a vertically integrated steel and vanadium slag producer in South Africa. The company extracts titaniferrous magnetite ore at its Mapochs mine and produces iron and steel products and vanadium-bearing slag at its steelworks in Mpumalanga.
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.
Roskill latest vanadium report looks at this recent news and the impact this may have of other producing companies
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