Evraz Highveld Steel and Vanadium, the vertically integrated steel and vanadium slag producer, is edging closer to announcing the preferred bidder in the sales process of its Mapochs mine, which is currently under business rescue.

The company said in a statement on Wednesday that the creditors’ committee had met to consider three final binding offers received from preferred bidders and will announce the successful bidder during the course of this week.

Meanwhile, the business rescue plan will be published by mid-September 2015, after which the creditors will formally vote on the plan at the creditors meeting to be convened within ten days from the date of publication of the plan.

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