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9 months ago
BRIEF-Amplats sells resources to Northam Platinum for 1 bln rand
October 11, 2016 / 6:26 AM / 9 months ago

BRIEF-Amplats sells resources to Northam Platinum for 1 bln rand

1 Min Read

Oct 11 (Reuters) - Anglo American Platinum Ltd :

* Says Anglo American Platinum disposes of mineral resources within Amandelbult Mining Right to Northam Platinum Limited for 1 bln rand in cash

* Says Rustenburg Platinum Mines Limited has signed an agreement to dispose of mineral resources within Amandelbult mining right

* Says resource comprises an area of Merensky and UG2 resources containing approximately 16.7 mln 4E ounces

* Resource outside of Anglo American Platinum's long term life-of-mine plans and does not impact any current or future mining plans

* Says transaction consideration includes an ancillary mineral resource located on north-west corner of Zondereinde mining right

* Says proceeds will be used to further reduce net debt and strengthen Anglo American Platinum's balance sheet Source text for Eikon: Further company coverage: (Bengaluru Newsroom)

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