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Anglo American Platinum, Sibanye Gold Confirm Asset Sale Announcement is Coming Wednesday
Sep. 08, 2015 12:45PM PST
Precious MetalsBloomberg reported that Anglo American Platinum (JSE:AMS) and Sibanye Gold (NYSE:SBGL) have confirmed they will provide an update on the sale of assets by Anglo. A spokesman for Anglo American, which owns 77 percent of Anglo American Platinum, confirmed the timing of the announcement, as did a spokesman for Sibanye. No further details were given.
**Update: On Wednesday morning, Anglo American announced the sale of its Rustenburg operations to Sibanye Gold.
Bloomberg reported that Anglo American Platinum (JSE:AMS) and Sibanye Gold (NYSE:SBGL) have confirmed they will provide an update on the sale of assets by Anglo. A spokesman for Anglo American, which owns 77 percent of Anglo American Platinum, confirmed the timing of the announcement, as did a spokesman for Sibanye. No further details were given.
As quoted in the publication:
The companies started talks over the assets about a year ago. Anglo American has been trying to dispose of the Rustenburg mines as it seeks to exit operations that don’t return 15 percent on capital employed.