The value of the sale has not been disclosed.

A subsidiary of Glencore acquired 50.04%, held by Exxaro Base Metals and Industrial Holdings in Rosh Pinah, and a further 30.04% from PE Minerals and Jaguar Investments Four.

The transaction is subject to conditions precedent, including obtaining required regulatory approvals.

PE Minerals, Jaguar and the Rosh Pinah Employee Empowerment Participation Scheme Trust will hold the remaining 19.92% equity interest in the Rosh Pinah.

Rosh Pinah operates an underground zinc / lead mine in south-western Namibia.

Currently, intensive on-mine exploration is underway to add to the total mineral resource base of 8Mt.

The Rosh Pinah mine produced 101,000t of zinc concentrate and 19,000t of lead concentrate last year.