Make Kitco Your Homepage

Anglo American Platinum completes sale of Bokoni Mine

Kitco News

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.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.