Mining Matters 2022

ATOK – Anglo American Platinum has announced that, together with its joint venture partner Atlatsa Resources Corporation, it has completed all the conditions precedent related to the sale of their joint 100% interest in Bokoni Platinum Mine.

The transaction was made to a wholly owned subsidiary of African Rainbow Minerals for a total cash consideration payable at closing of R3.5b. The transaction ultimately include employees and local communities in the new ownership structure alongside African Rainbow Minerals. The deal was confirmed on September 1, when African Rainbow Minerals took over ownership, control and management of Bokoni.

“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,” said Natascha Viljoen, Anglo American Platinum’s CEO.

African Rainbow Minerals is a leading South African diversified mining and minerals company with operations in South Africa and Malaysia. It mines and beneficiates iron ore, manganese ore, chrome ore, platinum group metals, nickel and coal, and also has a strategic investment in gold through Harmony Gold Mining Company.

The transaction was first announced in 2021, when Bokoni Platinum entered into a sales and purchase agreement to dispose of Anglo Plat’s 100% interest in the mine.