Eland Platinum has acquired Maroelabult Resource Property from Eastern Platinum (Eastplats) and its subsidiary Barplats Mines.
The Maroelabult resource property is located near Brits, in South Africa's North West province.
"Eastplats is pleased to close this transaction with Eland and to monetise Maroelabult," said Eastplats chief executive Diana Hu.
"The company remains focused to advance its core assets, including restarting the Zandfontein underground at the Crocodile River mine (CRM) and continue to bring value to its stakeholders."
Total cash consideration of R20 million ($1.3 million) was received early this month after the transfer of legal title and various legal and regulatory obligations required in South Africa was completed.
Eland assumed the care-and-maintenance costs and services of the Maroelabult assets since October 2019.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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