South Africa: Sasol boost for women in mining
11 October 2010
South African petrochemicals giant has sold a 20% stake in its mining subsidiary, Sasol Mining, to a new entrant to the mining sector called Ixia Coal – an empowerment firm that benefits women – as part of a new black economic empowerment (BEE) deal worth about R1.8-billion.
The transaction forms part of the company’s empowerment strategy and its commitment to comply with the objectives of the Mineral and Petroleum Resources Development Act and the Mining Charter.
Black woman owned and operated firm
Ixia Coal will be 51% owned by WIPCoal Investments, the shareholders of which include Wiphold (Women’s Investment Portfolio Holdings) and a new entrant created by [continue reading]