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Kropz ropes in mining veteran Jan Steenkamp at Elandsfontein project

Thu, 14th Feb 2019 12:22

(Sharecast News) - Plant nutrient feed minerals producer Kropz announced the appointment of Jan Steenkamp as its managing director of its 74%-owned Elandsfontein phosphate development project in South Africa's Western Cape province on Thursday.The AIM-traded firm described Steenkamp as a "well-known" South African mining industry veteran, who had successfully managed mining operations across a number of commodities.He was currently a non-executive director on the board of African Rainbow Minerals (ARM) - a South African diversified mining and minerals company with long-life, low unit cost operations.Steenkamp was first appointed as managing director of ARM group company Avgold in 2002, and also served on the board of Assmang.In May 2003, he was appointed to the Avmin board, and later served as chief executive officer.Following his tenure as an executive of ARM in June 2017, he served as the chief executive of ARM Ferrous and of ARM Exploration and Strategic Services.Elandsfontein is Kropz's most developed asset, the board claimed, which it said would exploit the country's largest sedimentary phosphate deposit.Around $120m had been invested in exploration, bulk sampling, feasibility studies and subsequent construction of a mine, mineral processing facility and associated infrastructure.Off-take agreements for its production of more than 1 Mtpa at at least 31% phosphate (P2O5) rock concentrate had already been secured.Following the successful AIM admission of Kropz in November last year, the board said Steenkamp had been tasked with developing the operational team and driving the Elandsfontein project through to commercial production.Results of the metallurgical test work currently being carried out at Elandsfontein were on track to be released during the first half of 2019."I am pleased to welcome such a high calibre individual onto the Kropz leadership team," said chief executive officer Ian Harebottle."It is no coincidence that Jan has been a long-time asset to the success of the African Rainbow Minerals story, associated with our largest shareholder, Africa Rainbow Capital."Once again, it shows the immense support Kropz continues to receive from ARC, not only as a provider of investment for the project and the company, but also as a source of further technical expertise and assistance required to bring our exciting projects on stream."Jan Steenkamp added that he was "very excited" to be a part of the Elandsfontein opportunity."This project has been built to a high standard, has received significant capital investment to date, and is now nearing the final stages of completion," Steenkamp said."I am pleased to be managing the team that is set to form the foundation for a company with the grand ambition to become an African fertiliser champion."
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18 Sep 2023 17:07

TRADING UPDATES: Kropz makes ZAR155 million draw down on loan

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14 Sep 2023 19:00

IN BRIEF: Kropz says Elandsfontein gets ZAR250 million loan facility

Kropz PLC - South Africa-focused phosphate producer and developer - Says Kropz Elandsfontein (Pty) Ltd and The ARC Fund have agreed to a ZAR250 million, around USD13.2 million, loan facility to meet immediate and additional near-term funding requirements at Elandsfontein. The facility will be used to progresses commercial sales, and also to meet Elandsfontein's interest and capital payment obligations to BNP Paribas SA.

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18 Aug 2023 14:26

IN BRIEF: Kropz makes draw down request on bridge loan facilities

Kropz PLC - South Africa-focused phosphate producer and developer - Makes a fifth draw down request for ZAR60 million, around GBP2.5 million, from its bridge loan facilities with its major shareholder the ARC Fund. The ZAR285 million facility was agreed upon in March to meet immediate cash requirements at Kropz Elandsfontein Pty Ltd. The loan is now drawn in full.

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31 Jul 2023 14:36

EARNINGS UPDATES: Kropz annual loss widens on impairments

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23 Jun 2023 17:41

IN BRIEF: Kropz makes draw down request on bridge loan facilities

Kropz PLC - South Africa-focused phosphate producer and developer - Makes a fourth draw down request for ZAR80 million, around GBP3.4 million, from its bridge loan facilities with its major shareholder the ARC Fund. The ZAR285 million facility was agreed upon in March to meet immediate cash requirements at Kropz Elandsfontein Pty Ltd.

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23 Jun 2023 15:51

UK shareholder meetings calendar - next 7 days

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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25 Apr 2023 21:00

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28 Mar 2023 16:46

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14 Mar 2023 20:20

TRADING UPDATES: Kropz agrees to ZAR285 million bridge loan facilities

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27 Feb 2023 12:22

Kropz makes ZAR40 million drawdown under major shareholder facility

(Alliance News) - Kropz PLC on Monday said it has drawn down ZAR40.0 million, a fourth request under its ZAR550.0 million convertible equity facility with its largest shareholder ARC Fund.

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25 Jan 2023 16:43

IN BRIEF: Kropz makes third drawdown request under new equity facility

Kropz PLC - African phosphate producer and developer - Makes third drawdown request under new ZAR550 million convertible equity facility from the company's largest shareholder ARC Fund, as announced in November. The third drawdown is for ZAR60 million, with ZAR47.5 million remaining available for drawdown under the facility's term. The next drawdown is expected to be made on or around February 23, in line with the terms of the ZAR550 million equity facility.

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23 Jan 2023 14:05

IN BRIEF: Kropz surges on first bulk sale from Elandsfontein project

Kropz PLC - African phosphate producer and developer - Confirms first shipment and sale of 33,000 tonnes of phosphate concentrate from Kropz Elandsfontein Pty Ltd. The Elandsfontein phosphate project is based in South Africa.

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16 Jan 2023 14:33

IN BRIEF: Kropz shares down as CEO Summers departs; hires Loubser

Kropz PLC - African phosphate developer - Hires Louis Loubser as chief executive officer to replace Mark Summers, effective immediately. Loubser has been a director or partner of companies including Arctiq Holdings Proprietary Ltd, BMP Mercator Proprietary Ltd, and Buffelsbank Boerdery Proprietary Ltd. Chair Robin Renwick says: "Louis has significant operational experience, which is what the Company most needs at this stage of its development."

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11 Jan 2023 09:30

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