JOHANNESBURG, Oct 9 (Reuters) – South African coal miner Exxaro EXXJ.J stated on Friday it was at superior stage negotiations over the sale of its 24.4% stake in Vedanta Zinc Worldwide’s Black Mountain Mining (BMM)operations however had not but finalised the transaction.
Exxaro, which additionally has pursuits mineral sands, iron ore and vitality, stated the choice was made after a strategic evaluation of its portfolio concluded that zinc mining was not aligned to the it is long-term targets.
The miner stated it will replace the market of the sale of the stake in BMM mine within the Northern Cape province when the transaction was concluded.
(Reporting by Tanisha Heiberg)
((Tanisha.Heiberg@thomsonreuters.com; +27117753034; Reuters Messaging: tanisha.heiberg.thomsonreuters.com@reuters.internet))
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