Hebba Investments • 16 Comments
Jul. 21, 2014, 4:36 AM
- Anglo American's (OTCPK:AAUKY) subsidiary, Amplats, is planning to sell its Union mine, Rustenburg operations and a joint venture in South Africa.
- The move will reduce the miner's staff count by 20k, and follows a continuous five-month strike against the company by the AMCU union.
- The mine is expected to be sold to Sibanye Gold (NYSE:SBGL), whose CEO Neal Froneman announced a wish for a platinum deal before the end of the year.
- ETFs: PPLT, PTM, PLTM, PGM
May 29, 2013, 1:19 PM
Jubilee Platinum (JUBPF.PK) is selling down its stake in its ferroalloy subsidiary Jubilee Smelting and Refining, for $14M to Global Renewable Energy. The first tranche of the sale includes 65% of ferroalloy group JSR and 40% of power generator PowerAlt. Jubilee, which is in the process of buying Platinum Australia (now scheduled for June 10), intends to use sale proceeds to focus on its core metal. (Platinum ETFs: PLTM, PPLT)| May 29, 2013, 1:19 PM