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South Africa: Department Welcomes Undertaking to Save Jobs at Tegeta
Source: www.sanews.gov.za
Source Date: Tuesday, October 10, 2017
Focus: Knowledge Management in Government
Country: South Africa
Created: Oct 10, 2017

The department said it has been duly informed by Oakbay Investments of the effective sale of its Tegeta Exploration and Resources business to another company.
The department said it continues to work with all stakeholders on the stability and sustainability of the industry, and welcomes all initiatives by current and potential investors to curb job losses.
“The purchaser has committed to a minimum level of 30% BEE compliance.
"The transaction will be concluded in line with provisions in the Mineral and Petroleum Resources Development Act,” the department.

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