• 10 tips to find bargains

    Susan Erasmus gives advice on how bargain hunters can get the most bang for their buck.

  • Inside Labour

    Labour's bitter breaches need to be seen in historical context, says Terry Bell.

  • Rich getting richer

    Economists differ on how to tackle the chasm between rich and poor, says Leopold Scholtz.

Loading...
See More

Exxaro sells stake in Namibian mine

Dec 15 2011 10:13 Reuters

Company Data

EXXARO RESOURCES LIMITED [JSE:EXX]

Last traded 98
Change 7
% Change 8
Cumulative volume 1052551
Market cap 0

Last Updated: 24-04-2015 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
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 
 

10 most expensive cars In the world

This is car porn at its best!

 
 

Luxury living

Seven of the most expensive children's toys ever made
5 millionaires turned murderers
The youngest billionaires in the world and how they made it
Watch: Flying first class has never been this luxurious!

Money Clinic

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

Voting Booth

How do you see your boss? He/sheis:

Previous results · Suggest a vote

Loading...