A JOINT venture between Sasol and Chile explosives company, Enaex, opened for business in South Africa on July 1.
The company – Enaex Africa – sees Sasol vend in assets spun off from the current explosives and rock fragmentation value chain of its base chemicals business. This was in terms of Sasol’s review process aimed at streamlining the organisation.
“Enaex is a Chilean company celebrating a 100 years of history and leadership in the explosives business in South America and together with Sasol will be a force to be reckoned in the mining industry,” said Sasol President and CEO, Fleetwood Grobler.
Enaex will be the majority shareholder and will take over management and operational control of the entity.
Enaex, provides blasting services to some of the major mining companies in the world, such as Anglo American, BHP, Codelco, KGHM, Glencore, Vale, Yamana Gold and Teck Resources, the company said.
Said Francisco Baudrand, CEO of Enaex Africa: “This Joint Venture is a platform of growth for Enaex not only in Southern Africa, but also for us to become the leaders in explosives and blasting services for the mining industry on the African continent”.
Meaningful participation for BBBEE has also been catered for in the shareholding structure in line with South Africa’s transformation agenda, the joint venture partners said.