RBM agreements South Africa

Rio Tinto and BHP Billiton’s South African joint venture, Richards Bay Minerals (RBM), has announced that agreements with a Broad-Based Black Economic Empowerment (BBBEE) Consortium have been signed, in which 24% of RBM will be transferred to a group comprising local communities and investors with a further 2% to be transferred to a trust for the benefit of RBM employees.