Atlatsa Resources sees effect of cost cuts and restructuring
ATLATSA Resources narrowed its interim losses, as costs fell and a restructuring of the asset it shares with Anglo American Platinum took effect.Atlatsa, a Canadian company with a mining complex near Polokwane in Limpopo, said its current liabilities exceed its current assets by C$21m, with C$12m of that stemming from unpaid invoices issued by Rustenburg Platinum Mines, the 49% partner in the Bokoni operating subsidiary owned by Atlatsa.Rustenburg Platinum is a wholly owned subsidiary of Anglo American Platinum, which has long been the source of funds for Atlatsa and which has put its 22.5% stake in Atlatsa and the minority shareholding in Bokoni up for sale.READ THIS: Heavy-handed stoppages at mines hit outputAngloGold’s Srinivasan Venkatakrishnan calls for a more considered approach to safety stoppages after output hitAtlatsa on Tuesday reported an operating loss of C$10m for the six months to end-June, compared with an operating loss of C$368m in the year before. It reported a n...
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