Company Data
| Last traded |
R185.80 |
| Change |
R0.55 |
| % Change |
0.30% |
| Cumulative volume |
518,836 |
| Market cap |
R65.86bn |
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May 27 2012 11:21
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May 27 2012 13:09
The oversupply of golf estates has claimed another victim.
Cape Town - Trade and Industry Minister Rob Davies said on
Tuesday he has asked a team to investigate the pending closure of the Exxaro Resources [JSE:EXX] zinc smelter, and that it is of concern that the country could be losing an
important productive capacity.
Speaking at a press conference on Tuesday, Davies said he
was not aware of Exxaro's announcement until he read it in the media.
"The zinc smelter (issue) has significant implications
and impacts on steel manufacturing. Our position is that we encourage companies
to come to the department of trade and industry and see if there is anything
we could possibly do.
"In this case we didn't know it would happen. We don't
even know how far down the line this announcement is. I am concerned about the
reports as this is an important productive capability that we may lose,"
he said.
Davies said he has asked a task team from the department's
metals and fabrication desk to look into the matter.
"We don't know yet how we will intervene, or even if we
should at all," he said.
Earlier this week Exxaro said it would take an impairment
charge of R500m on the closure of its unprofitable Zincor plant after failing
to find a buyer for it.
Should the plant close, it would mean the loss of 800 jobs and deal a blow to the government's minerals beneficiation
strategy.