- African phosphate explorer and developer Kropz said the South Africa Reserve Bank had approved the company's new ZAR 200 million credit facility with ARC Fund.

The new conditional convertible equity facility of up to ZAR 200 million agreed with ARC Fund, the company's major shareholder, was announced on 29 September 2021.

The new facility was also conditional on shareholder approval which, as previously announced, was being sought from the company's shareholders at a meeting to be held in London at 11:30 on 15 October 2021.

The facility would to deliver the Company's Elandsfontein phosphate project to first revenue.

Story provided by