Published: 15 April 2014

Australian domiciled exploration company African Chrome Fields (ACJ), formerly TPL Corporation is selling 70% of its stake in African Chrome Fields Pte Limited for $4 million.

ACJ is the holder of approximately 150 alluvial chrome mining concessions covering approximately 60sq km in multiple areas along the flanks of the Great Dyke.

It also owns a modular chrome recovery plant consisting of a washing plant, spiral concentrator set and two magnetic separators which produce a chrome concentrate and a magnetic product.

The company announced in a statement yesterday that it had entered into a conditional agreement to sell its interest in African Chrome Fields Pte limited.

The transaction is still conditional pending the satisfaction and due diligence by the purchaser expected by 15 April, as well as regulatory and shareholder approval.
- Zim Mail

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