Mapochs business rescuers 'do not have post-commencement finance'

The business rescue practitioners (BRPs) for troubled vanadium-iron ore producer Mapochs Mine have not secured post-commencement finance, they said in their latest report.

Mapochs entered business rescue proceedings on April 20. The South Africa-based mine is owned by and supplies ore to Evraz Highveld Steel & Vanadium, also in business rescue.
The BRPs, of Matuson & Associates and RS Advisors, said in the report that the mine had received assistance from Evraz Highveld and from Vanchem Vanadium Products, the mine’s major customer.

“The company’s two customers, Evraz Highveld Steel and Vanadium Ltd…and Vanchem Vanadium Products have...

Published

Claire Hack

August 19, 2015

17:28 GMT

New York