4th Sep 2015 09:49
LONDON (Alliance News) - Anglo American PLC Thursday said its platinum subsidiary is in discussions with South African miner Sibanye Group about selling its Rustenburg platinum mine in South Africa.
The FTSE 100-listed mining giant owns 80% of Anglo American Platinum, which has been trying to sell the mine since February when it decided to restructure the business and began a process to sell its "non-core" assets, which also included the Union mine in South Africa.
"This is in line with what we have publicly stated, that we continue to pursue both a sale and listing option. No further detail can be provided at this stage," said the mining giant Thursday.
The Rustenburg mine was hit by a five month strike in early 2015 which hampered production and back in February, the company said it would consider selling the Rustenburg and Union mines together or separately.
Anglo American said there is no guarantee the talks will lead to a deal.
Anglo American shares were down 2.8% to 704.80 pence per share on Friday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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