Chrome producer sells 15% stake to BEE entities

June 27, 2006

Brits-based Charge Chrome producer Hernic Ferrochrome has announced that final agreements have been concluded with Mmakau Mining, Matlapeng Resources and Kgare Resources, which will see the three acquiring an initial 15% equity in Hernic in total...

The deal, which is in terms of the black economic-empowerment requirements of the new Minerals Petroleum Resources Development Act (MPRDA), is subject to approval by the Department of Minerals and Energy.

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