Presently, Atlatsa owns 51% stake in the mine and the remaining share is owned by Anglo American Platinum, which is already planning to sell its stake in the mine.

Reuters cited a document that highlighted that Baroka Platinum has already offered $150m for the aquisition.

Last year, the mine produced 170 000t of platinum, and if the deal materializes then it would become first production asset for Baroka Platinum which presently relies on royalty payments.

If the deal materializes, the Bokoni will be able to generate fund form the mining operations to fuel its ambition of building schools, clinics and roads for the Ga-Nkwana community, located in the north-eastern part of South Africa.

According to reports, Baroka Platinum is trying to take advantage of the sector shake-up that is happening and forcing producers to sell their underperforming and labour-intensive mining shafts.