Anglo American Platinum (Amplats) and its joint venture partner Atlatsa Resources Corporation have completed all the conditions precedent related to the sale of their joint 100% interest in Bokoni Platinum Mines to a wholly owned subsidiary of African Rainbow Minerals for R3.5 billion.
Amplats had a 49% stake in Bokoni, while Atlatsa held the remaining 51% shareholding.
“We are pleased to have concluded the disposal of Bokoni Mine to African Rainbow Minerals. In conjunction with our joint venture partner, Atlatsa, we wanted to ensure the sustainability of the mine by selling Bokoni to an operator with the technical and operational capability and access to funding to successfully restart and operate the mine,” said Amplats chief executive Natascha Viljoen.
The transaction will include employees and local communities in the new ownership structure alongside African Rainbow Minerals.
The effective date of the transaction is expected to be 1 September 2022, when African Rainbow Minerals will take over ownership, control, and management of Bokoni.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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