[UPDATED] Vanchem declares force majeure on Mapochs business rescue; Evraz Highveld confirms temporary operations halt at Mapochs

South Africa-based vanadium producer Vanchem Vanadium Products has declared force majeure following the announcement of business rescue procedures at Evraz Highveld Steel and Vanadium and its subsidiary, Mapochs Mine Proprietary Ltd.

Vanchem, which is part of Duferco, has a 35% non-economic interest in Mapochs, which holds the vanadium-containing iron ore reserves of Evraz Highveld. Its interest in Mapochs was secured via a formal supply agreement, and was aimed at ensuring the long-term supply of vanadium raw material. Vanchem has said it “will be forced to stop production soon” as it is no longer being supplied...

Published

Claire Hack

May 06, 2015

15:00 GMT

London