Johannesburg - South African copper miner Palabora Mining
Company [JSE:PAM] said on Tuesday a consortium of South African and Chinese
parastatals would buy a 74.5% stake in it from Rio Tinto and Anglo American
South Africa's Industrial Development Corporation and three
Chinese firm will pay R110 per share for the stake, Palabora said.
The deal values the copper miner at R5.3bn. The company's
share price was up nearly 11% on the news.
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