• Is Cell C sustainable?

    Is the mobile operator another African Bank in the making, asks Gugu Lourie.

  • Alliances that work

    Mutually adding value secures the employer-employee relationship, says Ian Mann.

  • Without prejudice

    We all need to fight the ugly bigotry that’s made news recently, says Mandi Smallhorne.

Loading...
See More

Sasol sells coal stake to women's firms

Oct 07 2010 16:26 Reuters

Company Data

Sasol Limited [JSE:SOL]

Last traded 0
Change -2,31
% Change 0
Cumulative volume 511884
Market cap 268.80bn

Last Updated: 27-01-2015 at 11:58. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

World first in SA skies

Sasol to ramp up gas-to-liquid output

Sasol perks up after slump

Sasol profit up 5%, outlook cautious

Sasol, Tata plan CTL plant

Sasol faces fine over plastic prices

 
Johannesburg -  Petrochemical giant Sasol [JSE:SOL] said on Thursday it has sold a 20% stake in its coal mining unit to firms controlled by black women in a $269m deal.

WIPCoal Investments bought the 20% in Sasol Mining through a new share issue, the company said in a statement.

The deal will create a new firm called Ixia Coal, with Sasol holding a 49% stake.

The rest of Ixia will be held by firms representing black women, including a firm called Mining Women Investments, comprising 5 000 black women living in rural areas or on the fringes of cities where Sasol operates.

The women will receive dividends from the new company, which will eventually start its own mining operations, Sasol said.

The mining industry, the economy's largest export earner which brought in 43 billion dollars last year, has come under increasing political pressure to diversify its ownership.

The government warned last month that mining firms could lose their licenses if they fail to meet targets for black ownership in the industry.


sasol

NEXT ON FIN24X

 

Latest Articles

15 Investment Tips for 2015 Read More...
Tax-free saving accounts are coming Read More...
Which generator is right for you? Read More...
5 top tips to help you save on your next grocery bill Read More...
 
 

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

Money Clinic

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