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Anglo American Platinum sells interest in two South African mines

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Global Mining Review,

Anglo American Platinum has agreed to dispose of its 50% interest in the Kroondal pool-and-share agreement (PSA) and the Marikana PSA to Sibanye-Stillwater Ltd, the other 50% owner of the PSAs.

Natascha Viljoen, CEO of Anglo American Platinum, comments:

“We are pleased to have agreed to sell our 50% interest in the PSAs to Sibanye-Stillwater. Whilst the Marikana operation is on care and maintenance, the Kroondal operation has a short mine life under the current PSA terms. By enabling Kroondal to mine through the boundary at Sibanye-Stillwater’s Rustenburg operations, we will extract our attributable share of the Kroondal reserves more quickly and efficiently than under the previous mine plan, unlocking greater value for Anglo American Platinum and Sibanye-Stillwater. This transaction will also allow for the Kroondal life-of-mine to be extended under Sibanye-Stillwater’s ownership, sustaining employment at the operation for longer.”

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African mining news Precious metals mining news