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Amplats, Sibanye to make asset-sale announcement

Sep 08 2015 12:36
Kevin Crowley, Andre Janse van Vuuren and Jesse Riseborough


Company Data


Last traded 1288
Change 34
% Change 3
Cumulative volume 15016
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Sibanye Gold Limited [JSE:SGL]

Last traded 40
Change 1
% Change 2
Cumulative volume 2514187
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Anglo American Platinum [JSE:AMS] and Sibanye Gold [JSE:SGL] will make an announcement on Wednesday on the sale of assets by the world’s biggest platinum producer, the companies said.

“We will be providing an update on the sale of the Rustenburg assets to the market tomorrow morning,” Pranill Ramchander, a spokesperson for Anglo American [JSE:ANG], which owns 77% of world’s largest platinum producer, said by phone on Tuesday.

James Wellsted, a spokesperson for Sibanye, confirmed the timing of the announcement, declining to provide any details on the transaction.

The companies started talks over the assets about a year ago. Anglo American has been trying to dispose of the Rustenburg mines as it seeks to exit operations that don’t return 15% on capital employed.

A deal would allow Amplats, which had considered separately listing the mines, to offload assets in need of investment and focus on shallower, more mechanized operations.

For Sibanye, which got a $350m debt facility in August and operates four aging gold mines in the country, a deal would secure future cash flow to pay dividends.

amplats  |  sibanye gold  |  mining


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