Amplats, Royal Bafokeng extend disposal of concentrate agreement

Anglo American Platinum (Amplats)’s wholly-owned subsidiary Rustenburg Platinum Mines (RPM) has agreed to extend its disposal of concentrate agreement (DOCA) with Royal Bafokeng Resources (RBR) to February 10, 2023.
The agreement was first entered into in July 2018, replacing one that allowed RPM to acquire all of the platinum group metal concentrate produced by RBR.
RBPlat, which is a wholly-owned subsidiary of Royal Bafokeng Platinum, is currently the subject of a mandatory offer by Impala Platinum and makes provision for either 17% or 50% of Amplats’ bought concentrate.
“The termination date of the DOCA in respect of either 17% or 50% of the Concentrate is 11 August 2024, provided that RPM gives notice of such termination on or before 10 August 2022, failing which the DOCA shall endure for continuous rolling periods of 5 years unless terminated in accordance with the terms stipulated in the DOCA,” it said.
RBR has agreed that RPM may deliver a termination notice in terms of the DOCA at any time on or before 10 February 2023, on the basis that if a termination notice is given on or before that date, the termination date of the DOCA in respect of 17% or 50%, as the case may be, of the concentrate will remain 11 August 2024.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished