Afrimat set to acquire Unicorn’s anthracite as Demaneng pays off

Building materials and industrial minerals group Afrimat, which has recently seen a healthy profit bump from its Demaneng iron ore mine, has set its sights on anthracite producer Unicorn Capital Partners.

Afrimat intends to issue about 3-million new shares, worth about R90m as of Tuesday morning, to acquire the shares in Unicorn it doesn’t already own.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

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