/ 16 October 2000

AVMIN INVESTORS SEEK CONTROL

SOUTH African mining group Anglovaal Mining Ltd’s (Avmin) controlling shareholders and other investors are pooling their resources to maintain long-term control over the group under the control of the Menell family. ”It is Arctic’s intention to acquire additional ordinary shares in Avmin to establish a measure of sustainable long-term control,” the group said. Avmin has been disposing of its non-core assets in a bid to become a focused operational company with exposure to sizeable mining and mineral-related projects and operations in its core ferrous, base and precious metals. – Reuters