Reuters reported that Baroka Platinum has offered to buy Anglo American Platinum Ltd’s (OTCMKTS:AGPPY) stake in the Bokoni mine for $263 million. Baroka Platinum is part of the Baroka Tribal Mining business.

As quoted in the market news:

Amplats owns 49% stake of the Bokoni mine, with the rest owned by its joint venture partner Atlatsa Resources.

The offer from Baroka also includes Amplats’ 22.5% indirect stake in Atlatsa, the document said.

The size of last month’s offer to Amplats, a unit of global mining group Anglo American, is significantly lower than the 4.5 billion rand a source had said was submitted in December.

Amplats declined to comment on Wednesday and a Baroka spokesman was not immediately available to comment.

Click here to read the full Reuters report.