[miningmx.com] – TIME was running out for Evraz Highveld Steel & Vanadium as its resources were nearly depleted, said BDLive citing one of the group’s business rescue practitioners.
A strategic investor has to be found for the company by the middle of July as a R250m emergency funding package provided by the Industrial Development Corporation is on the verge of exhaustion.
This means possible liquidation despite the government having said it would “do everything in its power” to ensure that the company remained operational, said BDLive.
“With conditions the way they are it is going to be tough,” said business rescue practitioner Piers Marsden of Matuson Associates.
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