South32 to sell Temco manganese alloy smelter to GFG Alliance

Western Australia-based miner South32 will sell its entire stake in manganese alloy smelter Tasmanian Electro Metallurgical Co (Temco) to UK-based conglomerate GFG Alliance, it said on Thursday August 13.

The miner - which is listed on the stock exchanges in London, Australia and Johannesburg - owns manganese ore and alloy assets in South Africa and Australia through its stake in Samancor Manganese, a joint venture with Anglo American.
Temco is run by the Samancor Manganese Joint Venture, owned 60% by South32 and 40% by Anglo American.
Completion of the transaction will be subject to approval from Australia's Foreign Investment Review Board. Once this approval is received, GFG will acquire 100% of the shares in Temco, South 32 said.

No price for the deal was announced. South32 said...

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