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Barloworld Ltd is in talks to buy a business from Inc using proceeds from the sale of a unit earlier this year, the head of the South African equipment maker said on Monday.
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The rest of the proceeds would be brought back into South Africa and possibly used to buy back shares, he added. Barloworld Equipment is the official dealer for 's construction, mining and industrial machine range in eleven southern African countries, in addition to Spain, Portugal, Siberia and the Russian far east.
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South African Mining Minister Mosebenzi Zwane said in a statement that "the creation and retention of jobs in this sector is a critical part" of ensuring stability.
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