Asa Resource offloads South Africa slaughterhouses

ASA Resource Group

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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.

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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.”