Amplats, Sibanye to make asset-sale announcement | Fin24
 
  • SAA

    The flag carrier has vowed to re-accommodate passengers after it cancelled flights to save cash.

  • Poverty Cycle

    South Africans are struggling to escape poverty due to low levels of social mobility, says the WEF.

  • Slowdown

    The International Monetary Fund has revised SA's growth outlook for 2020 down to just 0.8%.

Loading...

Amplats, Sibanye to make asset-sale announcement

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

(Shutterstock)

Company Data

ANGLO AMERICAN PLATINUM LIMITED [JSE:AMS]

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

Related Articles

Jobs ‘bloodbath’ hits SA, mining companies cut costs

Amplats profit rises as mine-disposal options probed

Amplats seen facing protracted exit from unwanted mines

Amplats sees sharp earnings rise on strike recovery

Amplats drops to 10-year low, metal prices dip

Job cuts on cards in mine shake-up, says Amplats

 

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
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
Comments have been closed for this article.
 

Company Snapshot

Voting Booth

How concerned are you about ransomware attacks?

Previous results · Suggest a vote

Loading...