[miningmx.com] – EXXARO Resources is considering selling its stake in titanium oxide feedstock producer, Tronox, in a reversal of its strategy in which it was planning to lift its stake to control status, said BDLive.
“There is an option to acquire but we are also considering the possibility of selling,” said executive head of strategy and corporate affairs, Mzila Mthenjane. He was speaking on the sidelines of the Mining Indaba conference.
The existing plan was to increase its 44% stake in Tronox to more than 50%, but Mthenjane said there were other projects competing for capital.
“We have a healthy pipeline of projects but capital allocation and pacing is crucial,” he said. “We have substantial opportunities in the Waterberg which we will pursue,” he told BDLive.
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