Amplats, RBPlat reach agreement amid ACP closure
An arrangement has been agreed to in principle between JSE-listed Royal Bafokeng Platinum (RBPlat), Anglo American Platinum (Amplats), Rustenburg Platinum Mines (RPM) and Royal Bafokeng Resources (RBR), following the force majeure declared by Amplats under a disposal of concentrate agreement (Doca) between RBR and RPM.
RBR is a wholly owned subsidiary of RBPlat, and RPM is a wholly owned subsidiary of Amplats.
Amplats earlier this month said its Anglo Converter Plant would be unavailable during repair works to fix the Phase B unit, which would take about 80 days.
At the time, it said RPM would be unable to comply with its obligations in terms of the Doca during this period.
In terms of the arrangement currently being finalised with Amplats and RPM, RBR has resumed delivery of its concentrate to RPM.
Ownership will pass to RPM on materially the same terms and conditions as the pre-existing Doca but with delayed payment terms.
From March 6, all concentrate deliveries to RPM would be subject to newly agreed payment terms.
As soon as RPM has notified RBPlat that the ACP is operational, payment terms will revert to the terms contained in the initial Doca.
RBPlat said this was an acceptable arrangement. It added that it was pleased with the commitment demonstrated by Amplats and RPM to the partnership with RBPlat and to mitigating the impact of the force majeure.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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