Mining News

Bushveld, Mustang deal hangs in the balance

Aim-listed Bushveld Minerals has revised agreement terms regarding Mustang Energy’s acquisition of a 22.1% interest in Bushveld’s indirect subsidiary Vanadium Redox Flow Battery Holdings (VRFB-H), including to extend the maturity date of the agreement to February 28.

Bushveld CEO Fortune Mojapelo says the companies were unable to close the transaction within the original timeframe, owing to unforeseen events, and the extension of the maturity date may allow some visibility as to the potential outcome of litigation surrounding the deal that is in progress.

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