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JOHANNESBURG (miningweekly.com) – The Limpopo Economic Development Corporation (LimDev) is looking for a black economic-empowerment (BEE) partner to buy a stake in its ASA Metals joint venture (JV), as part of its socio-economic development plans.
The South African provincial enterprise currently owned a 40% stake in ASA Metals, with JV partner East Asia Metal Investment Company (EAMI) holding a 60% stake.
LimDev wanted to sell 30% of its stake to ensure that ferrochrome producer ASA Metals complies with the provisions of the Minerals and Petroleum Resources Development Act and the provisions of South Africa’s Mining Charter.
The corporation has issued an expression of interest for a BEE partner to buy 62,5% of its 40% stake in the company.
LimDev would keep 25% of its 40% stake in ASA Metals, while the Ga-Maroga community would own 12,5% of the 40% stake.
China’s EAMI would retain its 60% shareholding.
Qualified and interested parties had until June 20 to submit an expression of interest to the corporation.
