« SAB BEE deal done 'in good faith' | Main | SACP sets out policy on nationalization »
January 15, 2010
Employees, near-mine communities to benefit from RBM empowerment deal
Mineral sands producer Richards Bay Minerals (RBM) and its shareholders, Rio Tinto and BHP Billiton, have completed reportedly the largest broad-based black economic-empowerment (BBBEE) transaction in KwaZulu-Natal to date.
The transaction entails the sale of a 24% equity interest in RBM to Blue Horison Investments. In addition, RBM employees will hold 2% of the equity in RBM through an employee share participation scheme (ESPS).
Posted by StaffWriter at January 15, 2010 9:42 AM