Anglo American Platinum refers shareholders to the announcement released on 11 October 2016 in respect of the disposal of long-dated resources within the Amandelbult mining right to Northam Platinum Limited (”Northam”).
As announced by Northam on 25 August 2017, Northam have received their consent from the Minister of Mineral Resources in terms of section 102 of the Mineral and Petroleum Resources Development Act, No. 28 of 2002 for the resource acquisition.
Anglo American Platinum has not yet received its consent from the Minister of Mineral Resources in terms of section 102 of the Mineral and Petroleum Resources Development Act, No. 28 of 2002 for the resource disposal.
In addition to both companies needing section 102 consent, there is still a key condition precedent remaining before the transaction can complete, specifically an Environmental Authorization as per the requirements of the National Environmental Management Act, in order for Northam to mine the acquired area.
Johannesburg, South Africa
25 August 2017
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)