Rustenburg Platinum Mines (RPM) and Atlatsa have, throughout this year, continued to work towards the implementation of the 2017 Restructure Plan at the Bokoni mine.
Atlatsa in July 2017 announced a two-phased restructure plan for the mine, which comprised a care-and-maintenance strategy for the mine and a financial restructure plan for Atlatsa and its subsidiaries.
Bokoni was placed on care and maintenance on October 1, 2017.
RPM and Atlatsa continue to progress the various work streams required to be completed in terms of the agreement, while seeking the necessary regulatory approvals required for
implementation purposes.
At this stage, RPM and Atlatsa expect the restructure plan to be completed during the first quarter of 2019.
Atlatsa’s care-and-maintenance costs for the quarter ended September 30 were $12.3-million, or about R122.5-million.
These include shaft and plant maintenance costs, pumping to prevent flooding
of working areas, safety inspections as well as general and administrative expenses
necessary to safeguard the Bokoni mine assets.