Anglo American Platinum refers shareholders to the SENS announcement of the completion of the disposal of its 33% interest in the Bafokeng Rasimone Platinum Mine joint venture (“BRPM JV”) on 12 December 2018, (the “Transaction”).
The total purchase consideration at the time of announcement was R2.178 billion, (the total consideration of R1.863 billion plus the repayment of the Company’s contributions into the BRPM JV until completion of the Transaction). The upfront purchase consideration was settled by a cash payment by Royal Bafokeng Resources Proprietary Limited (“RBR”) of R555 million (approximately US$40 million).
The remaining deferred consideration, including accumulated interest, of R1.851 billion (c.$125 million) has been settled in full by RBR on 30 January 2020.
All existing commercial arrangements remain in place notwithstanding the settlement of the deferred consideration. The Company retains its right to purchase 50% of the BRPM JV’s concentrate for the life of mine and RBR retains the right to sell its 50% of the concentrate to Anglo American Platinum.
Shareholders are also referred to the Royal Bafokeng Platinum Limited announcement relating to the settlement of the deferred consideration dated 3 February 2020.
Johannesburg
3 February 2020
Sponsor
Merrill Lynch South Africa Proprietary Limited