African phosphate developer and producer Kropz Group recorded revenue of $14.1-million for the six months ended June 30. The interim period also saw it record the first sales from the trial production phase.
African phosphate developer and producer Kropz Group recorded revenue of $14.1-million for the six months ended June 30.“During the first six months of the year, Kropz faced significant challenges owing to unprecedented rainfall in the Western Cape region. The heavy and persistent rains resulted in severely wet mining conditions, posing obstacles to our operations.
In addition to addressing the wet mining conditions, Kropz states that Elandsfontein continues separating and stockpiling the hard bank material encountered in the ore. The Elandsfontein mine is still in its trial production phase and further challenges can be expected as it progresses towards full production.
Property, plant, equipment and exploration assets carrying value is recorded as $64.2-million as at June 30.Kropz also reported shareholder loans and derivative at June 30 this year of $66.2-million, and trade and other payables at June 30 of $5.4-million.
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