Anglo American Platinum Will Transfer Unki To Locals

Mining Weekly reported Anglo American Platinum (LSE:AAL) will transfer the majority of the Unki platinum mine to Zimbabwe locals.

As quoted in the market news:

Amplats and the government said in a joint statement the transaction values the 51% stake at $142.8-million. A state fund will take 21% of the mine with employees, a community trust and unnamed local investors taking 10% each, they said.

The deal will be funded through the dividends due to the new local shareholders for the next 10 years.