All data is delayed
Loading...
See More

Exxaro sells stake in Namibian mine

Dec 15 2011 10:13
Reuters

Company Data

EXXARO RESOURCES LIMITED [JSE:EXX]

Last traded 64
Change -4
% Change -7
Cumulative volume 607134
Market cap 0

Last Updated: 24-06-2016 at 05:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Exxaro's Mpower shares generate R1bn

Exxaro to exit Zincor refinery

Glencore, Ramaphosa eye mining JVs

Exxaro to sell mineral sands ops

Coal prices stoke Exxaro profit

Exxaro expects sharp profit rise

 

Johannesburg - South African miner Exxaro Resources [JSE:EXX] said on Thursday it has sold its 50% stake in the Rosh Pinah zinc and lead mine in Namibia to commodities trader Glencore for an undisclosed amount.

The diversified miner also said Glencore has acquired a further 30% stake in the mine from other shareholders, bringing its total stake to 80.08%.

Namibian empowerment groups and other shareholders will hold the remainder of the mine, Exxaro said.

The deal is subject to regulatory approvals from Namibia and South Africa.

Reuters reported on the pending deal between Exxaro and Glencore last month.

Exxaro said in July it wanted to exit the zinc business and focus on more lucrative parts of operations such as coal and iron ore.

Rosh Pinah zinc and lead mine is situated in southwestern Namibia, 800km south of Windhoek.

 
glencore  |  exxaro resources  |  mining

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE DEBT ISSUE

Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Labour’s call for a cap on salary of high earners is?

Previous results · Suggest a vote

Loading...