South African miner Chrometco is filing for a restructuring of its business, and is putting its mining and chrome wash operations on care and maintenance due to the current financial pressures, it has announced.
Chrometco, owned by South African commodity trading house Sail, will apply for restructuring and refinancing to meet commitments to its creditors and employees, according to an announcement published on Monday July 5.Sail Group, which includes the Sail trading house and Chrometco, has been under severe financial pressure due...