The TEMCO smelter in Tasmania's north employs 250 people, whose jobs are now understood to be safeThe sale to British businessman Sanjeev Gupta's GFG Alliance is subject to approval from Australia's Foreign Investment Review Board
South32 confirmed in a statement this morning it had entered into "a binding agreement" to sell TEMCO to GFG Alliance, of which Mr Gupta is the executive chairman. "The transaction and our ongoing supply of ore to TEMCO will see the smelter, first established in 1962, continue to operate into the future.
So thats ok he is not Chinese?
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