Amplats completes disposal of 33% stake in Bafokeng Rasimone mine
JOHANNESBURG - Anglo American Platinum (Amplats) said on Wednesday it had completed the disposal of its 33 percent holding in the Bafokeng Rasimone Platinum Mine (BRPM) joint-venture after the department of mineral resources granted approval.
The disposal is the culmination of a deal entered into in December by Amplats' wholly-owned subsidiary, Rustenburg Platinum Mines (RPM) and Royal Bafokeng Platinum's Royal Bafokeng Resources.
The agreement stipulated that Royal Bafokeng Resources would, in a two-phased transaction, acquire the balance of the 33 percent interest in the BRPM joint venture from RPM, including full title in respect of all assets owned by RPM.
On Tuesday, Amplats said basic earnings for the six months to June 30 were impacted by an impairment of R0.6 billion post-tax relating to the disposal of its holding in the BRPM joint venture.
- African News Agency (ANA)