The Bokoni mine and other shafts around Rustenburg have been put up for sale as part of Amplats’ plan to mechanize mine operations, reported Reuters.
The five-month strike at South Africa’s major platinum producers earlier this year has led the companies to restructure their operations or divest underperforming assets.
The remaining 51% stake in Bokoni mine is owned by Atlatsa Resources. The four-shaft mine produces 170,000oz of platinum group metals each year.
Baroka is also planning to buy Amplats’ 22.5% interest in Atlatsa. The stake is reported to be valued at $48m.
The company is being backed by state-owned pension fund, the Public Investment (PIC), which will partly fund the proposed transaction. Local lender Nedbank will provide some of the funding, the source added.
If the deal proceeds, PIC will receive certain stake in the Bokoni mine.
