Richards Bay Minerals, jointly owned by BHP Billiton Ltd. (BHP) and Rio Tinto PLC (RTP), Tuesday said it plans to sell a 26% stake to black investors in South Africa.

The company said it has identified seven lead investor companies which, together with RBM's four host communities, would be set to own 24% of RBM.
To facilitate the transaction, RBM has set up a special purpose vehicle that will hold the interests of both the investors and communities.

RBM is a leading global producer of titanium slag, high purity pig iron, rutile and zircon. – I-Net Bridge