Foskor sells stake to Manyoro Consortium, workers in BEE deal

July 8, 2009

The Industrial Development Corporation's (IDC's) broad-based black economic-empowerment (BBBEE) transaction with regard to phosphate rock miner and phosphoric acid producer Foskor, would benefit in excess of one-million people, IDC CEO Geoffrey Qhena highlighted on Wednesday.

The IDC unveiled details of its sale of a 26% stake in Foskor to BBBEE partners, 15% of which would be sold to the Manyoro Consortium, comprising 12 consortia.

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