(Image courtesy of South32)
Australian miner South32 Ltd said on Monday the sale of its manganese alloy smelter Metalloys in South Africa will not proceed, as it failed to satisfy certain commercial deal conditions.
The sale of Metalloys, which had ceased production in March 2020 after a review, was agreed by Samancor Manganese Proprietary Limited and Satka Investments Proprietary Limited late last year.
South32 did not disclose details on the conditions of the deal that were not satisfied, and added the site would remain under maintenance while it assess the options for the smelter.
(By Indranil Sarkar; Editing by Chris Reese)