Data provided by McGregor BFA
All data is delayed
Loading...
See More

Anooraq gets lifeline from Amplats

Feb 02 2012 17:12

Company Data

ATLATSA RESOURCES CORPORATION [JSE:ATL]

Last traded 4.10
Change -0.1
% Change -0.02
Cumulative volume 4000
Market cap 2.27bn

Last Updated: 17/04/2014 at 02:17. Prices are delayed by 15 minutes. Source: McGregor BFA

Anglo American Plat Ltd [JSE:AMS]

Last traded 499.00
Change 7.65
% Change 0.02
Cumulative volume 234841
Market cap 134.57bn

Last Updated: 17/04/2014 at 02:17. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Amplats warns profit hit by BEE deal costs

Amplats gives Zimbabweans 10% stake

Amplats in R3.5bn BEE deal

Amplats on track to meet output targets

Amplats staff to get free houses

 
Johannesburg - Anglo Platinum [JSE:AMS] the world’s largest producer of the precious metal, has agreed to help boost production at Anooraq Resources [JSE:ARQ] Bokoni Platinum Mine through a new R2.6bn capital development programme.

This capital means the mine can now target 245 000 ounces by 2016, an increase of 100 000 ounces.
 
The new spending on the mine forms part of a restructuring, refinancing and recapitalisation deal unveiled by the companies on Thursday.

Essentially a lifeline for Anooraq, the new strategic plan ensures that Amplats shares in the mine’s potential, which is promising given longer-term prospects for the platinum price.

A series of interrelated transactions will see Amplats acquire Anooraq’s Boikgantsho project and the eastern section of the Ga-Phasha project for R1.7bn.

While this will be put towards repaying Anooraq’s R3bn debt to Amplats, the smaller company will still recieve up to R1.3bn under a consolidated debt facility.
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

No legal challenge to Nkandla report - Mbete

There are no plans to legally challenge Public Protector Thuli Madonsela's report on Nkandla, ANC national chairperson Baleka Mbete says.

 
 

Latest elections multimedia

Why Jack Parow wants you to vote on 7 May
The ad the SABC doesn't want to air
Elections 2014 in one cartoon
This year's election posters

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...