Anglo, Sibanye platinum deal done

“This is a major step in the repositioning of Anglo American Platinum’s portfolio. The sale of the Rustenburg operations allows us to focus on our most competitive assets, consisting of largely open-pit and more mechanised operations which will result in higher margin production, a smaller and more highly skilled workforce, safer operations and a less complex organisation. As a result, our core operations stand to benefit from dedicated management attention and technical expertise, as well as our disciplined capital allocation model," says Chris Griffith, CEO: Anglo American Platinum.

The transaction has now been fully implemented, following settlement of the initial upfront purchase price of R1,5bn in cash, from Sibanye’s existing cash resources and debt facilities.