Sanctions, a Russian oligarch and a SA mine: ANC-linked NCape company safe for now - chairperson

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Viktor Vekselberg.
Viktor Vekselberg.
Photo by Artyom Geodakyan/Getty Images

South African company United Manganese of the Kalahari (UMK) – which is partly owned by Russian oligarch Viktor Vekselberg – says it will not be affected by EU or US sanctions as it is fully compliant with minimum requirements. 

UMK was started as a joint venture between Vekselberg’s Renova group and an SA BEE investment vehicle in 2011. Among the BEE investors in the ANC’s investment vehicle, Chancellor House, which holds an indirect interest of less than 25%.

UMK has in the past been a significant donor to the ANC. 

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