Anglo American Platinum has announced that, together with its joint venture partner Atlatsa Resources Corporation, it has completed all the conditions required for the sale of their joint 100% interest in Bokoni Platinum Mines Proprietary (Bokoni) to a wholly owned subsidiary of African Rainbow Minerals, for a total cash consideration of US$216.4m.

Local communities lead in the new ownership structure

In a statement, Anglo American Platinum said that the transaction will ultimately include employees and local communities in the new ownership structure alongside African Rainbow Minerals. The effective date of the transaction is expected to be 1st September 2022, when African Rainbow Minerals will take over ownership, control, and management of Bokoni, it added.

Mine reset to benefit employees and host communities

Natascha Viljoen, CEO of Anglo American Platinum, said: “We are pleased to have concluded the disposal of Bokoni Mine to African Rainbow Minerals. In conjunction with our joint venture partner, Atlatsa, we wanted to ensure the sustainability of the mine by selling Bokoni to an operator with the technical and operational capability and access to funding to successfully restart and operate the mine. 

“The restart of the mine by African Rainbow Minerals is expected to benefit employees, host communities, broader stakeholders, and the regional economy, and allow employees and communities to participate in a new ownership structure.”

Anglo American Platinum is a subsidiary of the Anglo American Group and is a leading primary producer of platinum group metals. Its mining, smelting and refining operations are based in South Africa. The Group also owns the Unki Platinum Mine and smelter in Zimbabwe.