Anglo American Platinum completes the sale of its interest in Bokoni Platinum

Anglo American Platinum announces that, together with its joint venture partner Atlatsa Resources Corporation (“Atlatsa”), it has completed all the conditions precedent related to the sale of their joint 100% interest in Bokoni Platinum Mines Proprietary Limited (“Bokoni”) to a wholly owned subsidiary of African Rainbow Minerals (the “Transaction”) for a total cash consideration payable at closing of R3.5 billion.

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 1 September 2022, when African Rainbow Minerals will take over ownership, control, and management of Bokoni.

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.”