| Mon 8 Nov 2010, 9:38 | | AMS - Anglo Platinum - Congratulates Royal Bafokeng Platinum Limited on its |
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AMS
ANANP
AMS - Anglo Platinum - Congratulates Royal Bafokeng Platinum Limited on its
successful Listing
ANGLO PLATINUM LIMITED
Incorporated in the Republic of South Africa
Registration number 1946/022452/06
Share code: AMS
ISIN: ZAE000013181
ANGLO PLATINUM LIMITED CONGRATULATES ROYAL BAFOKENG PLATINUM LIMITED ON ITS
SUCCESSFUL LISTING
Anglo Platinum Limited wishes to congratulate Royal Bafokeng Platinum Limited
("RBPlat") on its successful listing on the Main Board of the JSE Limited.
The listing of RBPlat represents another major milestone for Anglo Platinum
Limited`s involvement in the creation of an independent, broad-based black
empowered platinum producer, which will unlock value for its stakeholders
through optimised extraction and growth in the platinum group metals industry.
As announced by RBPlat on 3 November 2010, the listing follows a private
placement which closed on 2 November 2010 and which was strongly over-
subscribed. 49,226,829 shares were placed including the over-allotment, at
R60.50 per share. As a result, shares in RBPlat with a value of R2,978,223,153
were placed, representing an effective free float of 30%.
Following today`s listing, Anglo Platinum Limited, through its wholly owned
subsidiary Rustenburg Platinum Mines ("RPM"), holds 12.6% of the issued share
capital of RBPlat. Anglo Platinum Limited continues to own 33% of the Bafokeng
Rasimone Platinum Mine ("BRPM") joint venture directly. Anglo Platinum Limited
will receive cash proceeds of R1.4 billion from the sale of shares held by RPM
for the private placement.
Neville Nicolau, CEO of Anglo Platinum Limited said: "This listing is a landmark
transaction and marks the fulfilment of Anglo Platinum Limited`s commitment
towards facilitating the creation of an independently controlled and managed,
black-empowered platinum group metals producer. The listing brings further
independence to the Royal Bafokeng and longevity to our partnership and we are
excited about the future value creation potential of RBPlat. We wish the
company and its management well for the future."
Anglo Platinum Limited and the Royal Bafokeng Nation have a long-established,
strong and successful relationship. The BRPM Mine was restructured into a 50:50
joint venture between Anglo Platinum Limited and Royal Bafokeng Holdings ("RBH")
in August 2002. The joint venture was restructured in October 2008 to transfer
control and management of BRPM to the Royal Bafokeng Nation. The restructuring
transaction created a NewCo which assumed control over the current and future
operations of the joint venture and is controlled and independently managed by
RBH. Anglo Platinum Limited exchanged 17% of its 50% interest in BRPM for an
indirect interest in Newco and the parties agreed to list NewCo. The
restructuring became unconditional in December 2009.
Anglo Platinum Limited continues to smelt, refine and market 100% of the PGMs
from BRPM.
RBPlat is well-placed to exploit its existing assets, develop future resources
and reserves and aims to leverage its key competitive strengths to enhance its
market position. These are:
- RBPlat is well-positioned to capitalise on the anticipated improvement in the PGM sector`s strong supply and demand fundamentals;
- The BRPM joint venture has significant shallow, high grade and well-known
reserves and resources;
- BRPM`s existing operations and planned expansion and replacement projects,
in particular the Styldrift Project, are situated in the largest PGM-
enriched zone in the world;
- BRPM is an established producer with a track record of attractive margin
production with the opportunity to reduce unit costs;
- The company is well-positioned, with significant growth potential within
its existing operations and in the surrounding area;
- The company has a focused management team and dedicated workforce with
extensive experience in the platinum mining industry; and
- The support and expertise of Anglo Platinum Limited as a joint venture
partner and RBH as a shareholder.
For further information, please contact:
Investor Relations
Anna Mulholland
amulholland@angloplat.com
Tel: +27 (0)11 373 6683
Kgapu Mphahlele
Kmphahlele@angloplat.com
Tel: +27 (0)11 373 6239
Notes to editors:
Anglo Platinum Limited
Anglo Platinum Limited is a member of the Anglo American plc Group and is the
world`s leading primary producer of platinum group metals. The company`s
production accounts for 40% of the world`s newly mined platinum.
The company is listed on the Johannesburg Securities Exchange (JSE). Its mining,
smelting and refining operations are based in South Africa. Elsewhere in the
world, the Group is developing Unki Platinum Mine in Zimbabwe and is actively
exploring in Brazil. It has exploration partners in Canada, Russia and China.
Anglo Platinum Limited has a number of joint ventures with several historically
disadvantaged South African consortia as part of its commitment to the
transformation of the mining industry.
Anglo Platinum Limited is committed to the highest standards of safety and
continues to make meaningful and sustainable difference in the development of
the communities around its operations.
www.angloamericanplatinum.com
08 November 2010
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 08/11/2010 09:38:36 Produced by the JSE SENS Department.
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