The remaining assets of Evraz Highveld Steel & Vanadium, once the second-largest SA steel producer before it went into business rescue four years ago after years of losses, will be acquired by Highveld Robusteel in USD 105 million deal that is set to boost economic activity in Witbank, Mpumalanga. Business Rescue Practitioner Mr Piers Marsden confirmed that Highveld Robusteel will be acquiring the remaining iron and steelmaking assets of Evraz Highveld Steel & Vanadium. The USD 105 million is made up of the asset acquisition, as well as the restart and upgrade of the plantThe assets comprising this transaction include four iron making furnaces and ten rotary pre-reduction kilns housed across two separate smelter plants, a steel plant facility including two basic oxygen furnaces, a ladle furnace, a continuous casting machine and a plate mill facility, reinforcing Robusteel’s commitment to restart steelmaking at this renowned location. The assets are situated within the Highveld Industrial Park, a major industrial hub in Mpumalanga, South Africa, which will support this transaction through the supply of a full suite of shared services including logistics and waste facilities.At full production, Robusteel will produce vanadium bearing pig-iron, various flat steel products, vanadium pentoxide slag and structural blooms supported by an ore offtake agreement with the historically linked Mapoch’s mine.Robusteel is a special purpose vehicle jointly held by black-owned Bonheur Ventures and Amplico Resource Management. The transaction is the first of Robusteel’s strategic acquisitions in the steel, mining, minerals beneficiation and infrastructure sectors within the Southern African Development Community, with financial support garnered from several major international and local funders.
The remaining assets of Evraz Highveld Steel & Vanadium, once the second-largest SA steel producer before it went into business rescue four years ago after years of losses, will be acquired by Highveld Robusteel in USD 105 million deal that is set to boost economic activity in Witbank, Mpumalanga. Business Rescue Practitioner Mr Piers Marsden confirmed that Highveld Robusteel will be acquiring the remaining iron and steelmaking assets of Evraz Highveld Steel & Vanadium. The USD 105 million is made up of the asset acquisition, as well as the restart and upgrade of the plantThe assets comprising this transaction include four iron making furnaces and ten rotary pre-reduction kilns housed across two separate smelter plants, a steel plant facility including two basic oxygen furnaces, a ladle furnace, a continuous casting machine and a plate mill facility, reinforcing Robusteel’s commitment to restart steelmaking at this renowned location. The assets are situated within the Highveld Industrial Park, a major industrial hub in Mpumalanga, South Africa, which will support this transaction through the supply of a full suite of shared services including logistics and waste facilities.At full production, Robusteel will produce vanadium bearing pig-iron, various flat steel products, vanadium pentoxide slag and structural blooms supported by an ore offtake agreement with the historically linked Mapoch’s mine.Robusteel is a special purpose vehicle jointly held by black-owned Bonheur Ventures and Amplico Resource Management. The transaction is the first of Robusteel’s strategic acquisitions in the steel, mining, minerals beneficiation and infrastructure sectors within the Southern African Development Community, with financial support garnered from several major international and local funders.
