Anglo Gold confirm Sibanye discussions

Mining

JOHANNESBURG, (CAJ News) – ANGLO American Platinum has confirmed that the Company is in discussions with Sibanye in relation to the sale of its Rustenburg operations.

According to officials, discussion “may or may not lead to transaction.”While it could not give further details, the company said the discussions were in line with what had been publicly stated.

Recently at the company ‘s annual general meeting, Chief Executive Officer, Mark Cutifani, confirmed they were  in negotiations with some parties regarding a potential trade sale.

“From our point of view, at this stage, the preferred option is an IPO (initial public offering),” Cutifani said .

Anglo American Platinum has previously reported that it will divest several assets, including some in Rustenburg, which was at the centre of a five-month strike last year.

This is part of a plan to switch to more mechanised mining.

CAJ News

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