The Department of Mineral Resources has approved the transfer of the Lesedi mining right from South African subsidiary International Ferro Metals Limited (IFMSA) to Samancor Chrome, London-listed International Ferro Metals (IFM) said on Thursday. Once registration of the cession of the Lesedi mining right gets under way at the Mineral and Petroleum Titles Registration Office, a process that takes four to eight weeks, a R140-million purchase consideration will become payable by Samancor.
