BHP Billiton signs R10bn aluminium supply deal with black consortium

The world’s biggest mining company BHP Billiton has agreed a R10-billion, five-year liquid metal supply contract with a black-controlled consortium in a transaction that gives the South African aluminium industry a shot in the arm. The diversified major, which is in the process of demerging its South African aluminium, manganese and coal assets into a separate new company (Newco) that will be listed in Australia, South Africa and Britain, said on Monday that it had reached a definitive agreement to sell its Bayside value-added-product casthouse in Richards Bay, KwaZulu Natal, to Isizinda Aluminium, a majority owned, broad-based black economic empowerment consortium. (Also watch attached video).