Richards Bay Minerals inks R4.5bn BEE deal

December 12, 2008

Johannesburg - Empowerment deals signed at Richards Bay Minerals (RBM) yesterday valued the heavy minerals producer at about R17.3 billion.

RBM, a 50-50 joint venture between Rio Tinto and BHP Billiton, said yesterday seven black economic empowerment (BEE) groups, communities and employees had bought a 26 percent stake in RBM for R4.5 billion.

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