Exxaro Resources has stopped the sale of its stake in the Black Mountain Mining zinc operation owned by India’s Vedanta Resources after the buyer, the Industrial Development Corporation (IDC), changed its strategic focus.

Exxaro put its 24.4% stake in Black Mountain up for sale in 2019 and the buyer was the IDC. However, with the change in the global economy and the state-owned national development financier’s revised strategic response, the sale was cancelled, Exxaro said on Monday...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now