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RBPlat reviewing impact of Amplats’ converter plant shutdown

10th March 2020

By: Marleny Arnoldi

Online News Editor

     

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JSE-listed Royal Bafokeng Platinum (RBPlat) is reviewing the impact of a force majeure declared by fellow-listed Anglo American Platinum (Amplats) last week on its own operations.

Amplats on Friday announced that it would temporarily shut down the Anglo Converter Plant, which treats smelted matte in preparation for refining, following an explosion in February.

Amplats had, following the explosion, started up a second converter plant, but it continued to have inexplicable water ingress, resulting in a safety hazard.

The platinum group metals producers, therefore, decided to shut down the plant while repairs are made to the second converter plant, which is expected to take about 80 days.

Repairs to the initial plant are only expected to be completed in the second quarter of 2021.

Amplats is, therefore, unable to fulfil its duties under a disposal concentrate agreement between its Rustenburg Platinum Mines (RPM) subsidiary and RBPlat subsidiary Royal Bafokeng Resources (RBR).

Under the terms of that agreement, RPM treats material supplied to it by RBR.

RBR has temporarily acceded to Amplats’ request not to deliver concentrate to RPM, pending the outcome of discussions with Amplats and RPM.

RBPlat said it would update stakeholders as soon as it was in a position to quantify the near-term impact of this development with greater accuracy.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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