https://www.miningweekly.com

Amplats finalises R1.8bn Bafokeng Rasimone JV interest sale to RBPlat

Amplats CEO Chris Griffith

Amplats CEO Chris Griffith

Photo by Creamer Media

12th December 2018

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

Anglo American Platinum’s (Amplats’) subsidiary Rustenburg Platinum Mines (RPM) has completed the disposal of its 33% interest in the Bafokeng Rasimone Platinum Mine joint venture (JV) to Royal Bafokeng Platinum (RBPlat) and Royal Bafokeng Resources (RBR).

RBR took ownership of the operation on December 11.

The purchase consideration comprised R1.8-billion and an additional R315-million that equates to the repayment of RPM’s contributions into the JV since the announcement of the transaction.

RPM will retain its right to buy 50% of the JV’s produced concentrate for the life of mine, and RBPlat will retain its termination right on the remaining 50% of the concentrate every five years, with the earliest possible termination date being August 2022.

Amplats CEO Chris Griffith on Wednesday said the sale allows Amplats to further simplify its portfolio and focus its capital allocation into own-managed mines and projects.

In turn, the transaction allows RBPlat to increase its attributable resource and reserve base and advances empowerment in the platinum group metals industry.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Flameblock
Flameblock

FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...

VISIT SHOWROOM 
Universal Storage Systems (SA)
Universal Storage Systems (SA)

South African leader in Steel -Racking, -Shelving, and -Mezzanine flooring. Universal has innovated an approach which encompasses conceptualising,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.181 0.215s - 105pq - 2rq
Subscribe Now