Dual-listed Atlatsa Resources on Friday announced plans to implement a two-phase restructure plan that will see its joint venture (JV) Bokoni mine idled, with JV partner Anglo American Platinum (Amplats) acquiring the resources specified in the Central Block and Kwanda North prospecting rights. A letter agreement between the JV partners outlined the Phase 1 care and maintenance strategy for the embattled mine, with Amplats funding all costs associated with the process up until December 31, 2019, and suspending the servicing and repayment of the current R4.2-billion and future debt owing by Atlatsa until then.
