Anglo Platinum Sees Sale of Union Mine Progressing by Year-End
- Prospective buyer currently conducting due diligence on asset
- South African mine has been up for sale since January 2013
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Anglo American Platinum Ltd. said the delayed sale of Union mine in Rustenburg, South Africa, should progress by the end of the year, by which time the agreed sale of three other operations in the region to Sibanye Gold Ltd. should be complete.
Amplats, as the company is known, has “had a number of parties engaging with us and we have a party who’s conducting due diligence as we speak,” Chief Executive Officer Chris Griffith told reporters on a conference call Monday. The sale, which began in 2013, was intentionally delayed while the company closed unprofitable parts of the operation, he said.