Johannesburg - Highveld Steel and Vanadium was in talks to sell Transalloys, part of its unprofitable ferroalloys unit, it said yesterday.
Negotiations were under way with "a number" of interested parties, Highveld, which is controlled by Russia's Evraz Group, said in a statement to the JSE.
Highveld's ferroalloys unit reported a R43 million loss in the year to December, while the company's total net income was R1.11 billion.
Transalloys produces manganese alloys, used in steel production.
Highveld said in February that it was in exploratory talks to sell Transalloys to Kalahari Resources, which plans to build a R3 billion manganese mine and smelter. - Bloomberg