Anglo American Platinum sells its interest in Bokoni Mine

Anglo American Platinum announces that Bokoni Platinum Holdings has entered into a Sales and Purchase Agreement to dispose of its 100% interest in Bokoni Mine to African Rainbow Minerals Limited (ARM). The Company holds a 49% interest and our joint venture partner, Atlatsa Resources Corporation (Atlatsa), holds a 51% interest of Bokoni Platinum Holdings. The Transaction will include employees and local communities in the new ownership structure alongside ARM. Bokoni Mine has been on care and maintenance since 2017.

Natascha Viljoen, CEO of Anglo American Platinum, commented on the Transaction: “We are pleased to have concluded an agreement for the disposal of Bokoni Mine to an established mining company in ARM. In conjunction with our joint venture partner, Atlatsa, it was important that Bokoni Mine was sold to an operator with the technical and operational capability and access to funding to ensure the restart and sustainable future for the mine.

The restart of the mine by ARM 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.”

Bokoni Mine is located in the Eastern Limb of the Bushveld Complex in the Limpopo province of South Africa. The joint venture was set-up in 2007 between Atlatsa and Anglo American Platinum. In 2017, Bokoni Mine was placed on care and maintenance, following several years of significant cash losses under difficult market conditions.

In 2019, the joint venture partners commissioned an independent technical study to evaluate options that would allow the mine to be restarted. The study looked at options to position the mine with the necessary capital investment into a more sustainable operation.

Following the successful completion of the study, the joint venture partners decided to start a process to dispose of their interests in Bokoni Mine to a buyer that would be in a position to allocate the capital required to restart the operation. An extensive, inclusive and thorough process has been conducted to find a buyer with the necessary technical, operational and funding capacity to operate and invest in the mine, setting it on a new sustainable path.


Under the terms of the SPA, Bokoni Platinum Holdings will receive an upfront cash consideration of R3.5 billion for the Bokoni Mine, which proceeds will be distributed to the joint venture partners in accordance with pre-existing commercial arrangements which take into account, inter alia, their respective shareholding interests, claims and entitlements.

The Transaction consideration unlocks value from the investment entered into by Atlatsa and its shareholders in 2007, which include the local communities, to support value creation for historically disadvantaged South Africans (HDSAs) through facilitated participation in the mining industry.


The Transaction is subject to the fulfilment or waiver (where capable of waiver) of, amongst others, the following notable conditions precedent:

  • consent in terms of Section 11 for the disposal of a controlling interest in Bokoni Mine to the new owners by the Department of Mineral Resources and Energy (DMRE); and
  • approvals by the relevant Competition Authorities.

The Transaction is expected to complete in 2022.


In conjunction with entering into the SPA, Anglo American Platinum has agreed a purchase of concentrate agreement with ARM where Anglo American Platinum will purchase concentrate on commercially agreed terms from the Bokoni Mine for a period of twenty-three years from delivery of first concentrate, aligned with the current agreed life-of-mine plan.

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