WMA Chrome Mining Property Limited and WMA Minmet Processing Proprietary Limited agreed to acquire Ilitha’s plant, assets and mining right from Afarak Group Oyj for ZAR 400 million.

WMA Chrome Mining Property Limited and WMA Minmet Processing Proprietary Limited agreed to acquire Ilitha’s plant, assets and mining right from Afarak Group Oyj (HLSE:AFAGR) for ZAR 400 million on May 31, 2021. The consideration will be paid in 3 portions. The first portion is expected within 30 days from date of signature, the second within 12 months, and the last portion in monthly instalments over the next approximately five years, starting June 2021. The transaction was approved by the board of directors of Afarak group.