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20/07/2017
Orezone Announces Appointment of New Director
 
07/07/2017
ENDEAVOUR ANNOUNCES THE RETIREMENT OF ITS COO
 
31/05/2017
RETIREMENT OF DEPUTY CHAIRMAN - Mineral Deposits Limited
 
 
 
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   29/07/2011
 
Zincor sale may lead to lay-offs
 
South African diversified miner Exxaro said it would cease operations at its unprofitable Zincor refinery after measures to try sell the asset had failed.

Exxaro has said it plans to exit the zinc business and focus on growing other, more lucrative, parts of its operations, especially coal and iron ore.

"Zincor as a zinc-making operation has proved to be un-saleable to potential investors ... and turn-around and improvement interventions have proved fruitless," said Sipho Nkosi, Exxaro's chief executive.

The company said the closure of the refinery may lead to lay-offs, should it prove impossible to relocate employees to other Exxaro operations.

Exxaro's zinc portfolio also includes a 50.04 percent interest in the Rosh Pinah zinc and lead mine in Namibia and a 22 percent interest in the Chifeng zinc smelter in China.

The miner said talks on the sale of its shareholding in Rosh Pinah and Chifeng were ongoing.
 
Source: Reuters
 

 
 
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