« Mbeki urged to help speed up BEE | Main | Holcim announces SA empowerment deal »
August 23, 2006
Aflease Gold sells assets to BEE group
Aflease Gold, the South African company building the first East Rand gold mine in decades, says it has sold 26% of its gold assets using a similar structure to its parent company, sxr Uranium One's empowerment deal last year...
A workers trust will be created for each of the consortiums relating to the workers for that specific asset, the trusts will own 30% in each of the consortiums formed. Also community trusts will be created taking 30% in each as well. Zandile Zungu’s African Vanguard will hold 20% of each. The rest of the ownership will be split into a number of 5% portions split between black owned investment companies.
If a link does not open, right click on it and select "open in a new window"What do you think about this article? You can air your views in the space provided below.
Posted by bernievn at August 23, 2006 2:13 PM