FRIDAY, 10.30AM
RANDGOLD commercial director Brett Kebble is behind an attempt to set up SA’s first resource bank, a R1-billion venture intended to fund mining projects. Kebble is at present touting the plan to leading financiers.
It is widely believed that the proposed mining bank is in anticipation of new black empowerment initiatives such as the recent sale of a controlling stake in Johannesurg Consolidated Investments to a consortium of black investors led by Mzi Khumalo’s Capital Alliance.
Kebble will be the major shareholder in the bank through Consolidated Mining Corporation, which he will head. CMC will contribute about a quarter of the bank’s R1-billion capital base. It is believed that several investors are interested in the bank, with Capital Alliance believed set to be a major shareholder.