|
BHP has big richards bay BEE plans
22 February 2007
BHP Billiton's (BHP's) Alberto Calderon says the upcoming BEE deal at the half-owned Richards Bay Minerals project will comply with and go beyond what is required under South Africa's mining law. However, he did not elaborate further.
Calderon who heads BHP's diamonds and speciality products division, told investors and media in a briefing on the division that Billiton and the other half owner, Rio Tinto, were working together on the transaction. "It will end up fulfilling and going beyond the spirit of empowerment," said Calderon.
Under South Africa's mining legislation, 26 percent of mining assets must be owned by historically disadvantaged South Africans (HDSAs) by 2014.
Richards Bay Minerals is the world's largest mineral sands operation with more than 20 years of remaining life, according to the briefing presentation.
Anglo American is busy in the process of selling its Namakwa Sands — mineral sands operation — to black empowered Exxaro.
I-Net Bridge, www.business.iafrica.com, Gareth Tredway
|
