Otmane El Rhazi : Evraz subsidiary joins parent company in business rescue proceedings

Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.

Two weeks after itself filing for business rescue, vertically integrated steel and vanadium slag producer Evraz Highveld Steel & Vanadium announced on Thursday that subsidiary Mapochs Mine would also enter business rescue proceedings following “historical operational difficulties” that had rendered the Limpopo-based iron-ore mine unable to meet its short-term obligations. As Highveld’s integrated steelworks facility was Mapoch’s primary customer, Highveld’s filing for business rescue placed in doubt Mapochs’ ability to source funding that it had historically obtained from its parent company.