Question NW1599 to the Minister of Public Enterprises
20 May 2022 - NW1599
Van Dyk, Ms V to ask the Minister of Public Enterprises
What is the status of his department’s 20% stake in West Coast Resources?
Reply:
The department remains the custodian of the State’s 20% stake in West Coast Resources (WCR). WCR is currently under business rescue. A 7-year business rescue plan was approved in July 2020. The shareholding is held through a special purpose vehicle created by De Beers called Mainstreet( Pty) Ltd. The Department is currently working on a process to have the shareholding held in the name of the State directly or through one of the State-Owned Entities.