MOTHBALLED OPERATION
Atlatsa weighs up options on Bokoni mine
Atlatsa Resources hopes to make a decision in 2018 on what to do with its last remaining asset, the suspended Bokoni platinum group metals mine it recently mothballed in a deal with its partner, Anglo American Platinum (Amplats). Atlatsa has had a long run of losses at Bokoni, in which it holds a 51% stake and Amplats, the world’s largest platinum miner, the remaining 49%. The partners decided the best way to deal with the losses at the mine was to suspend it, with the loss of 3,500 jobs, to give the parties a two-year gap in which to decide on the best course of action, said Joel Kesler, Atlatsa’s chief commercial officer. The options under review are an outright sale of Bokoni by the partnership; Atlatsa buying the Amplats stake; or bringing in a third party to replace Amplats, he said in an interview. "We’d ideally like to have something done next year and that’s our focus along with concluding the second phase of the restructuring transaction to transfer prospecting rights to Am...
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