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Bakgatla Ba Kgafela Confident Over Anglo Platinum Mine Stake
Jun. 30, 2015 07:33AM PST
Precious MetalsBloomberg reported that Bakgatla Ba Kgafela, a community near the South African mines operated by Anglo American Platinum Ltd.(OTCMKTS:AGPPY), is confident about its prospects to acquire stakes in the operations that Amplats seeks to dispose of.
Bloomberg reported that Bakgatla Ba Kgafela, a community near the South African mines operated by Anglo American Platinum Ltd.(OTCMKTS:AGPPY), is confident about its prospects to acquire stakes in the operations that Amplats seeks to dispose of.
As quoted in the market news,
The group’s interest in the mines follows Amplats’s undertaking that it will decide before Tuesday whether to sell or separately list the mines amid a 42 percent plunge in platinum prices since August 2011. A buyer or separately listed entity will have to be at least 26 percent-owned by a black investor to comply with mine-license conditions, a measure aimed at reducing economic disparities created by apartheid rule.