Data provided by McGregor BFA
All data is delayed
Loading...
See More

State diamond miner to be restructured

Oct 17 2011 16:41 Sapa

Related Articles

State-owned Alexkor posts profit

De Beers: Rough diamond demand to soar

De Beers in new Botswana deal

Zim diamond mines to set up own power

Standard refutes human rights report

Petra profit dips, sees volatile prices

 
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
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

Zille: DA will provide real, sustainable jobs

The DA says it has a policy package in place which will lead to 6m real, sustainable jobs being created. Watch Helen Zille explain.

 
 

Latest elections multimedia

11 Julius Malema quotes you'll never forget
DA won't get 30% - Zille
The EFF's ad was banned, see why
Why Jack Parow wants you to vote on 7 May

Money Clinic

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