Asa Resource offloads South Africa slaughterhouses

Asa Resource announced on Tuesday that its subsidiary, Asa Meat SA, had agreed to dispose of its slaughterhouse business and assets located in South Africa for ZAR 15m (£0.88m) payable in cash on completion.

The AIM-traded firm said the disposal was subject to the transfer of land titles with the relevant authorities in South Africa.

“I'm pleased that we've been able to make a profit from this sale, which marks a shift in the group's strategy to concentrate on its core activities of mining and exploration,” said chief executive Toindepi Muganyi.

“The board will consider other non-core disposals as appropriate over the coming months.”