In response to recent statements, Anglo Platinum Limited wishes to confirm its support for the proposed listing of Royal Bafokeng Platinum, scheduled for the fourth quarter of 2010.
Anglo Platinum remains firmly committed to Black Economic Empowerment as a strategic transformation imperative and fully supports the objectives espoused by the Mining Charter. The original Royal Bafokeng Resources (“Royal Bafokeng”) transaction was restructured to ensure that Royal Bafokeng obtained the majority interest in the Bafokeng Rasimone Platinum Mine (BRPM) joint venture. Our support for RBPlat’s proposed listing confirms our commitment towards the creation of a truly black owned, black controlled and black operated listed platinum company.
BRPM remains an important and strategic asset in the Anglo Platinum portfolio. Anglo Platinum rejected the recent offer for RBPlat on the basis that the offer did not support Anglo Platinum’s business strategy and was not in the best long term interests of its shareholders.
“We remain firmly committed to our relationship with the Royal Bafokeng Nation and we wish to continue to operate as true and strategic partners in the PGM industry. We believe the RBPlat listing is an exciting and major contribution to the transformation of the industry,” said Neville Nicolau, CEO of Anglo Platinum Limited.