Amplats posts improved FY16 results; sells Union mine stake to Siyanda Resources

February 15, 2017

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Owing to the successful repositioning of its platinum portfolio, Anglo American Platinum (Amplats) has swung from a loss of R126-million in 2015, to headline earnings of R1.87-billion for the year ended December 31, 2016. The portfolio repositioning includes the completion of its divestment in the Rustenburg operations, with R1.5-billion upfront proceeds received; the signing of an agreement for the sale of mineral resources to Northam; and the sale of its Pandora stake to Lonmin.

Category: General