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DMR welcomes sale of Tegeta to Swiss-based company

The Department of Mineral Resources (DMR) has welcomed the sale of Tegeta Exploration and Resources by Gupta-owned Oakbay Investments to a foreign-owned company for close to R3-billion. This comes after Oakbay Investments announced on Wednesday that it had agreed to sell its interest in Tegeta to the little-known Swiss-based Charles King SA for R2.97-billion in a bid “to save employees’ jobs”.