View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
October 27, 2009

Sylvania, Ruukki Cancel Merger Talks

Australian company Sylvania Resources and the resource investor Ruukki Group have cancelled their merger due to problems faced with its execution. On 30 June 2009 Sylvania and Ruukki signed a merger implementation agreement which would see the latter purchase all of Sylvania's issued

By cms admin

Australian company Sylvania Resources and the resource investor Ruukki Group have cancelled their merger due to problems faced with its execution.

On 30 June 2009 Sylvania and Ruukki signed a merger implementation agreement which would see the latter purchase all of Sylvania’s issued and to-be-issued share capital subject to meeting certain stipulations.

Sylvania said it will now persist in achieving its long-term goal of gaining access to downstream platinum processing capacity to extend its low cost tailings retreatment and near surface platinum group metal (PGM) mining business model.

Sylvania wants to treat low-grade PGM concentrates that cannot be processed economically by existing AC smelters.

Sylvania and Ruukki say they will continue to assess alternative possibilities for collaboration in the PGM business.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The mining industry's most comprehensive news and information delivered every month. The mining industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Mining Technology