Sibanye-Stillwater has entered into an agreement with Rustenburg Platinum Mines (RPM), a subsidiary of Anglo American Platinum, which will result in the Rustenburg operation assuming full ownership of the low cost, mechanised Kroondal operation.
It said the transaction will facilitate the life of the Kroondal operation being extended to 2029 and ensure significant value creation for all stakeholders.
The Kroondal operation is subject to a 50/50 pool and share agreement between Kroondal Operations
Proprietary, which is wholly owned by Sibanye-Stillwater and RPM.
Amplats will dispose of its 50% interest in the Kroondal pool-and-share agreement to Sibanye for the bargain price of just R1.
Sibanye-Stillwater acquired its 50% interest in the Kroondal PSA following its acquisition of Aquarius Platinum in April 2016.
By the end of 2020 certain shafts at the Kroondal operation had reached the boundaries of the Kroondal
PSA lease area.
Sibanye-Stillwater currently operates the Kroondal operation, which is located adjacent to, and up-dip of
Sibanye-Stillwater’s Rustenburg operation and the shallow Klipfontein open pit operation.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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