Exxaro’s Black Mountain exit not quite ready
BUSINESS DAY / 09 OCTOBER 2020 - 18:33 / ALLAN SECCOMBE
Exxaro is still not there with its exit from Vedanta’s Black Mountain zinc assets in SA as sale to IDC drags on
Exxaro Resources has yet to finalise a deal to sell its nearly one-quarter stake in Vedanta Resources’ Black Mountain Mining, despite talks being at an advanced stage, the diversified miner said on Friday.
Exxaro is selling its 24.4% stake in Black Mountain, which is a zinc asset in India’s large resources group, to the Industrial Development Corporation (IDC), according to an invite that was issued and then postponed during the week.
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