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Keras Resources to Divest US Unit for GBP2 Million

MT Newswires·09/14/2026 04:15:54
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04:15 AM EDT, 09/14/2026 (MT Newswires) -- Keras Resources (KRS.L) said Monday it intends to sell its entire interest in Keras US and its subsidiaries for 1.7 million pounds sterling, subject to shareholder approval. The consideration includes an upfront cash payment of $1 million and the cancellation of 923,409 pounds of convertible loan notes owed by the mining company to the buyers. Keras will retain an unlimited royalty of $10 per long ton on qualifying future production from the Diamond Creek phosphate mine in Utah, US. Keras US owns the Diamond Creek project through its subsidiaries Falcon Isle Holdings and Falcon Isle Resources, as well as a 50% stake in Phosul Utah.