Exxaro says Black Mountain stake sale not finalised yet

9th October 2020 By: Marleny Arnoldi - Deputy Editor Online

JSE-listed diversified miner Exxaro Resources has clarified that negotiations to sell its 24.4% interest in Black Mountain Mining (BMM) are still ongoing, despite media reports claiming that the sale process has been finalised.

Exxaro previously said zinc mining was not strategically aligned to its long-term objectives and, therefore, initiated a sales process to sell its interest in BMM.

The company did disclose that negotiations were at an advanced stage.