JOHANNESBURG Feb 15 Anglo American Platinum
, the world's No. 1 producer of the precious metal,
swung into profit in 2016 from a restated loss and said on
Wednesday it had sold off its Union mine, the last major asset
it wanted to dispose of.
* "As part of the group's divesture initiatives, a binding
sale and purchase agreement with Siyanda Resources (Siyanda) was
signed on 14 February 2017 for the Group's interest in Union
Mine, for an initial purchase price of 400 million rand ($30.6
million)," the company said. Further settlements are tied to
* Amplats, which reduced its net debt to 7.3 billion rand
from almost 12.8 billion rand, said because of its net debt
position and "uncertain macroeconomic environment, the board has
decided not to declare a dividend in 2016."
* Amplats, a unit of Anglo American, has not declared a
dividend since 2011, but the market had not widely expected one.
Sister company Kumba Iron Ore on Tuesday also said it
was not declaring a final dividend, disappointing investors and
sending its shares lower.
* Headline earnings increased to 1.9 billion rand in 2016
from the restated loss of 126 million rand in 2015. "This
reflected favourable foreign exchange movements, operating and
overhead cost reduction, lower restructuring costs and the
impact of impairments in the comparative period." ($1 =
(Reporting by Ed Stoddard; Editing by Tiisetso Motsoeneng)