Rockwell in BEE deal with AVR

September 20, 2006

ROCKWELL Ventures, a Canadian listed firm, is finalising plans to sell a 26% stake in its South African subsidiaries to African Vanguard Resources (AVR), the empowerment firm that has invested in projects owned by Harmony Gold and sxr Uranium One.

According to Rockwell’s plans, AVR will buy a 26% stake in HV Van Wyk Diamonds and KlipDam Diamond Mining with Rockwell owning the remainder of the company’s shares. At present, Rockwell owns stakes in the two companies after buying South African company, Durnpike Investments.

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