July 23, 2018 / 6:18 AM / 4 months ago

Amplats lifts H1 earnings, acquires Glencore's stake in Mototolo platinum mine

JOHANNESBURG, July 23 (Reuters) - Anglo American Platinum posted a 350 percent rise in interim profits on Monday and kept the dividend tap flowing as it reaps the benefits of a pivot to mechanised mining that has lifted productivity and cut costs.

The world’s largest producer of the precious metal also announced that it had acquired Glencore’s 39 percent stake in Mototolo, a mechanised platinum mine on the eastern limb of South Africa’s platinum belt. (Reporting by Ed Stoddard Editing by Olivia Kumwenda-Mtambo)

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