[miningmx.com] — THE African Exploration, Mining and Financing Corporation (AEMFC) is to be the nucleus for the proposed state-owned mining company, Minister in the Presidency Collins Chabane said on Thursday.
Briefing the media following cabinet’s last regular meeting of the year, he said the executive had approved that the AEMFC – currently a wholly-owned subsidiary of the Central Energy Fund (CEF) – be separated from the CEF.
“The AEMFC will become a stand-alone entity that will constitute the nucleus for the state-owned mining company.”
The mineral resources and energy departments would develop modalities for separating the AEMFC from the CEF group of companies, Chabane said.
