• Confused terminology

    Edward Ingram clarifies some points on banking terminology from his previous essay.

  • Avoiding leadership traps

    Overconfidence can cause blind spots that may lead to business failure, says Ian Mann.

  • Dirt poor

    Results will be dire unless we look at soil and water differently, says Mandi Smallhorne.

All data is delayed
Loading...
See More

State diamond miner to be restructured

Oct 17 2011 16:41
Sapa
Johannesburg - State-owned diamond company Alexkor will restructure its focus of operations and management to reap greater dividends, board chairperson Reginald Muzariri said on Monday.

Muzariri said the company had previously been in "limbo" because land restitution and claims had arrested active mining.

The company had transferred mining rights to the Richtersveld community - its largest area of operations - and set up a joint venture to be run by an independent board and management.

Alexkor would retain a 51% holding though as necessary skills and resources would still be needed.

"The Richtersveld Mining Company does not have the business acumen... Someone needs to partner with the community," Muzariri said.

Alexkor would also expand its mining operations to the broader South African regions, and look at possibilities in Angola, the Democratic Republic of Congo and Zimbabwe.

 
alexkor  |  restructuring

NEXT ON FIN24X

 
 
 

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:

Money Clinic

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

Voting Booth

Would you buy the FNB branded smartphone?

Previous results · Suggest a vote

Loading...