Exxaro Resources scraps sale of stake in Black Mountain Mining to IDC
2020-12-29 12:02:47 [Print]
On December 28, Exxaro Resources Limited, the diversified South African-based resources group, provided an update on the disposal of its 24.4% stake in Black Mountain Mining Proprietary Limited ("BMM").
Exxaro previously concluded that zinc mining was not strategically aligned to the group's long-term objectives based on a review of its portfolio of assets. Exxaro therefore initiated a sales process for the disposal of its 24.4% interest in BMM to the Industrial Development Corporation ("IDC").
The Company said that the sale will no longer proceed as envisaged due to a change in the strategic priorities of the IDC, given the prevailing global and domestic economic conditions.
Exxaro previously concluded that zinc mining was not strategically aligned to the group's long-term objectives based on a review of its portfolio of assets. Exxaro therefore initiated a sales process for the disposal of its 24.4% interest in BMM to the Industrial Development Corporation ("IDC").
The Company said that the sale will no longer proceed as envisaged due to a change in the strategic priorities of the IDC, given the prevailing global and domestic economic conditions.
Zinc Conc. 50%min EXW South China
Unit:RMB/mt Zn
China zinc concentrate producers' inventory to production ratio statistics by province by month
Unit: %
