Anglo American Platinum completes sale of Bokoni Mine
Anglo American Platinum (JSE:AMS) said today it sold its Bokoni Mine to African Rainbow Minerals for R3.5 billion (US$220 million).
The mine had been on care and maintenance since 2017.
Bokoni Mine is located in the Eastern Limb of the Bushveld Complex in the Limpopo province of South Africa, according to background provided by Amplats. The joint venture was set-up in 2007 between Atlatsa and Anglo American Platinum. In 2017, Bokoni Mine was placed on care and maintenance, following several years of significant cash losses under difficult market conditions.
In 2019, the joint venture partners commissioned an independent technical study to evaluate options that would allow the mine to be restarted.