Mantengu Finalizes Sale of Blue Ridge Platinum; Maritana Advances Black Swan Project
Mantengu has agreed to sell its 70% stake in Blue Ridge Platinum to Afresources Mining for R35 million, aiming to eliminate R185 million in liabilities. Meanwhile, Maritana is investing $25 million into the Black Swan project, targeting gold production by late 2027.
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Mantengu will sell its 70% shareholding in Blue Ridge Platinum to Afresources for R35 million, contingent on specific conditions. This transaction will reduce Mantengu's liabilities by R185 million and decrease monthly operating expenses by R2 million.
Concurrently, Maritana is launching a $25 million early works program at its Black Swan processing hub, which aims to commence gold production in 2027. The early works phase will last approximately 20 weeks and involves engineering and procurement activities.
Maritana aims to increase processing capacity to 2.5 million tonnes per annum, enhancing its production profile. Both companies are strategically positioning themselves for future growth within their respective sectors.
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