London-listed Xstrata and South Africa's Chrome & Alloys have merged their chrome and ferrochrome assets creating a new joint venture worth R8 billion ($1.2 billion). The deal also creates the world's leading ferrochrome producer with 30% of the world market. SA Chrome is owned by Royal Bafokeng Resources Holdings and the Industrial Development Corporation, while Xstrata is a major diversified mining company operating in six major international commodities. The new company will be known as Xstrata-SA Chrome Venture.