South Africa's Exxaro to sell stake in Vedanta Zinc's Black Mountain Mining

  • Reuters
  • Commodities News
South Africa's Exxaro to sell stake in Vedanta Zinc's Black Mountain Mining
Credit: © Reuters.

JOHANNESBURG, Oct 6 (Reuters) - South African coal miner Exxaro EXXJ.J is selling its 24.4% stake in Vedanta Zinc International's Black Mountain Mining (BMM) operations to the Industrial Development Corporation (IDC), a national development finance institution.

"This transaction now sees the IDC joining Vedanta Zinc International as a long-term strategic partner in its BMM South African Operations," the companies said in a statement, saying a formal announcement would be made on Friday.

BMM is a zinc, lead, silver, and copper mine in South Africa's Northern Cape province.

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