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.
“South African Platinum Supplies Are Declining. What Should Investors
Do To Profit From This Trend?”
Get the latest update on the platinum market. Click below
to get your FREE market report.