Amplats completes exit from BRPM for R2.2bn
Anglo American Platinum continues its exit from noncore assets by finalising the sale of its remaining stake in the joint venture
Anglo American Platinum (Amplats) continued its exit from noncore assets by finalising the sale of its remaining stake in the Bafokeng Rasimone Platinum Mine (BRPM) joint venture for nearly R2.2bn. Amplats was the partner in BRPM with Royal Bafokeng Platinum (RBPlat), which is buying its partner’s 33% stake in the joint venture. Amplats has the right to buy half the concentrate coming from BRPM, which is one of two mines that RBPlat operates, the second being the new Styldrift mine, which is ramping up to steady state production. The transaction was conducted by Amplats’ subsidiary Rustenburg Platinum Mines (RPM) and the concentrate purchase agreement will extend for the life of BRPM. “The completion of the sale of RPM’s 33% interest in the BRPM joint venture allows Anglo American Platinum to further simplify its portfolio and focus its capital allocation into own-managed mines and projects,” said Amplats CEO Chris Griffith. RBPlat will pay R1.86bn plus R315m towards repaying RPM’s ...
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