South32 agreement to divest Tasmanian Electro Metallurgical Company
(WorldNews Africa)

MEDIA RELEASE 13 August 2020 AGREEMENT TO DIVEST TASMANIAN ELECTRO METALLURGICAL COMPANY South32 Limited ("South32") is pleased to announce that Groote Eylandt Mining Company (GEMCO), owned by the Samancor Manganese joint venture (JV), has entered into a binding agreement for the sale of its shareholding in the Tasmanian Electro Metallurgical Company (TEMCO) to an entity within GFG Alliance (GFG). Completion of the transaction is subject to approval from Australia`s Foreign Investment Review Board. Upon satisfaction of this condition, GFG will make a nominal payment to GEMCO to acquire 100% of the shares in TEMCO. As a condition to the completion of the transaction, the parties...