By: Hertha Ekandjo
The Namibia Competition Commission (NaCC) has approved the sale of Dundee Precious Metals’ Tsumeb smelter to a subsidiary of a Chinese owned company called Sinomine Resources Group Co. Ltd.
This means the transaction, which involves the sale of Dundee’s interest in the smelter to Sinomine, is expected to proceed as scheduled in the third quarter of 2024.
The approval marks a significant milestone in the divestment process, aligning with Dundee’s strategic objectives.
The finalisation of the sale is contingent upon the completion of documentation concerning the revised purchase price and the proposed tolling arrangement, as previously disclosed by the Company.
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