Hernic concludes BEE deal

February 14, 2007

South African ferrochrome producer Hernic has completed a black economic-empowerment deal in which it sold a 15% stake in the company to Matlapeng Resoiurces, Mmakau Mining and Kgare Resources, it said on Friday...

Matlapeng, led by Collin Mtjila includes shareholders such as Kopano Ke Matla and the Black Management Forum. Mmakau Mining is a company deeply involved in the mining industry, led by Bridgette Radebe, and Kgare Resources is a broad-based black women's group, led by Nthabiseng Matsobane, from the North-West province.

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