GET RESOURCES Exxaro to sell ferroalloys unit to BEE company by end-June 2024 AdminNovember 29, 2023053 views Exxaro Resources said on Wednesday it planned to sell its ferroalloys unit to a black-owned business by the end of June 2024. The Johannesburg-based coal miner, which has diversified into renewable energy and is looking for battery metal assets, has said the ferroalloys unit does not fit into its long-term strategy. The unit produces ferrosilicon, mostly used in steelmaking. “Exxaro aims to enhance the economic participation of black-owned companies in the South African economy. In line with this intent, Exxaro has earmarked the ferroalloys disposal process to target black ownership. The sales process is anticipated to be concluded in 2Q24,” the company said in a statement. South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we’re about to enter a new chapter of fearless journalism. Join our free subscription trial to unlock this story and a world of news aimed to inform, empower, and inspire. Source link