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March 10, 2008

Diamcor Mining and Nozala Investments Enter into JV

Diamcor Mining and broad-based, black-economic empowerment (BBBEE) company Nozala Investments have announced their agreement to form a joint venture.

The arrangement will be reflected through two of Diamcor's wholly-owned but dormant South African subsidiaries, DMI Minerals and Jagersfontein Diamond Mining Company. According to the agreement, Diamcor will retain 70% of its ownership in its subsidiaries while women-led Nozala will hold 30% direct shareholder ownership.

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Posted by StaffWriter at March 10, 2008 11:22 AM