JOHANNESBURG (miningweekly.com) – Anglo American Platinum (Amplats) has successfully placed about 17.3-million Royal Bafokeng Platinum (RBPlat) ordinary shares at R22.50 a share with qualifying investors, raising R390-million.
Amplats will use some of the proceeds to fund its share of the joint venture (JV) Maseve concentrator plant, which borders RBPlat’s Styldrift project and will treat its ore.
The remaining funds will be used to fund Rustenburg Platinum Mines’ (RPM’s) share of ongoing funding requirements in respect of the Bafokeng Rasimone platinum mine JV Styldrift I project.
Following the placing, Amplats will, through RPM, hold about 2.6% of RBPlat shares.