Anglo American Platinum Sells 50% Interest in South Africa Project to Sibanye-Stillwater
31 January 2022 - 5:57PM
Dow Jones News
By Anthony O. Goriainoff
Anglo American Platinum Ltd. said on Monday that it sold its 50%
interest in the Kroondal and Marikana Pool-and-share Agreements to
Sibanye-Stillwater Ltd. for 1 rand (6 cents).
The South African miner said the conditional transaction will
extend the project's life-of-mine, and that Sibanye will take over
all closure costs and rehabilitation liabilities.
"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," the
company said.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
January 31, 2022 01:42 ET (06:42 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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