[miningmx.com] — PETMIN announced on Thursday it has received permission from the Department of Mineral Resources for the sale of the SamQuarz silica mine to Thaba Chueu.
Still, the sale remains subject to a Competition Tribunal appeal by Petmin against a decision by the Competition Commission to prohibit the transaction.
Petmin announced in September that it had sold SamQuarz to Thaba for
R259m, subject to approval from competition authorities and the Department of Mineral Resources.
A formal notice was filed with the tribunal on January 27 to reconsider the commission’s decision.
“It is anticipated that the legal process before the Tribunal will take
approximately six months,” read a company statement. “During this time, Petmin will continue to operate SamQuarz as a profitable and productive mining business.”
