Bokoni strike contributes to Atlatsa’s $18.7m 2012 operating loss
JOHANNESBURG (miningweekly.com) – Toronto- and New York-listed Atlatsa Resources Corporation recorded an operating loss attributable to shareholders of $18.7-million, translating into a basic and diluted loss of 4c a share, for the 2012 financial year.
This was in large part owing to the negative financial impact of an unprotected strike in October last year at the company’s Bokoni mine, on the northeastern limb of South Africa’s Bushveld Complex, which led to almost no production at the operations during the fourth quarter of the year.
Atlatsa recognised a fair value gain at year-end of $90.6-million arising from the implementation of Phase One of the revised restructure plan of its Bokoni group of companies, which took place in September last year and had a material positive impact on the company’s earnings for the period under review.
Atlatsa Resources Corporation and mining major Anglo American Platinum (Amplats) on Wednesday concluded a R3.5-billion revised restructuring, recapitalisation and refinancing plan for Atlatsa and the Bokoni group of companies.
The came as a strategic review suggested that Atlatsa was likely to be unable to repay a R3.3-billion debt to Amplats in the medium term.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation