Anglo American Platinum buys Glencore out of Mototolo joint venture
Anglo American Platinum announced on Monday that its wholly-owned subsidiary, Rustenburg Platinum Mines, has signed a sale-and-purchase agreement with Glencore Operations South Africa to purchase its 39% interest in the Mototolo joint venture.
Anglo American
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16:49 14/11/24
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Glencore
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Mining
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The company said the Mototolo joint venture was currently operated as a 50/50 joint venture between Anglo American Platinum and a partnership between Glencore at 39%, and Kagiso Tiso Holdings at 11%.
“The acquisition of Glencore’s stake in the Mototolo JV increases Anglo American Platinum’s interest in a mechanised, low-cost, high quality resource, creating another major PGM hub for the company,” said Anglo American Platinum CEO Chris Griffith.
“The transaction unlocks significant optionality for the company in its wholly-owned Der Brochen resource.”