Amplats adds growth option by buying partners out of joint venture mine
Securing full ownership of Mototolo by buying out a Glencore-run partnership, Amplats has the ideal platform to exploit its untouched Der Brochen resources
Anglo American Platinum has secured a long-life asset with growth potential by buying its partners out of the Mototolo joint venture mine and unlocking the undeveloped neighbouring Der Brochen property. While Amplats may have initially wanted to invite its partner Glencore to continue the joint venture by extending into the Der Brochen property — an offer Glencore would have declined because its CEO, Ivan Glasenberg, does not regard platinum group metals as a good fit for the mining and commodity trading company — the sole ownership of the Mototolo mine is ideal for the world’s third-largest platinum producer.
Amplats now has an additional growth option in its armoury, with the highly mechanised, shallow Mototolo mine a perfect fit in the company’s strategy and one that allows it to extend mining into Der Brochen without replicating surface infrastructure. The Mototolo and Der Brochen properties are on the southern end of the eastern limb of the bushveld igneous complex clos...