Anglo American Platinum Ltd.
 (AGPPF)

- OTCPK - Current
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Last vote:
  • Sep. 9, 2015, 7:52 AM
    • Sibanye Gold (NYSE:SBGL) agrees to acquire the Rustenberg platinum mining and concentrating operations in South Africa from Anglo American Platinum (OTCPK:AGPPY, OTCPK:AGPPF) for at least 4.5B rand ($331M).
    • The deal involves an upfront payment of 1.5B rand, with a minimum deferred payment of 3B rand, equal to 35% of cash flow generated by the operations, making 20B rand the maximum potential value of the deal.
    • The sale allows Amplats, which had considered separately listing the mines, to focus on shallower, lower cost and more mechanized operations as platinum prices fall to multi-year lows.
    • For SBGL, the deal will boost future cash flow to pay dividends if the miner can lower costs and raise production as has happened at four aging gold mines.
    • SBGL +3.9% premarket.
    | Sep. 9, 2015, 7:52 AM
Company Description
Anglo Platinum Ltd. is the holding company for a group of companies which operate platinum mines. In addition to platinum, the group mines and produces platinum group metals such as palladium, rhodium, iridium, ruthenium, osmium, nickel, copper and cobalt.
Industry: Gold
Country: South Africa