Kropz SA (Pty), Century City, South Africa, said on Feb. 16 it had decided to divest its interests in Aflao, the phosphate project located in Ghana. It is selling its shareholding in First Gear Exploration Ltd., a 50 percent and one share owned subsidiary of Kropz, to Consortium Minerals Ltd. As a result, Kropz said it will no longer have any further interest in Aflao.
Consortium is a subsidiary of Russell Brooks Ltd., which held a 15 percent stake in First Gear prior to the purchase. Total consideration was US$327,529.
Kropz said the disposal allows the company to focus on its strategy of developing the Elandsfontein phosphate project in South Africa and progressing the Hinda phosphate project in the Republic of Congo.