Bokoni rejig
3rd Feb 2012
JOHANNESBURG, Feb 3 – Bokoni platinum project partners Anooraq Resources and Anglo American Platinum have agreed to a restructure, recapitalisation and refinancing plan for Anooraq and the Bokoni mine in the Bushveld Complex of South Africa.
The US$325M restructuring plan that followed a review of the 2009 agreement that created the Bokoni group (Anooraq 51%, Amplats 49%) will accelerate production growth at Bokoni by retiring high cost mature operations, dispose of undeveloped PGM ounces to Amplats, recapitalise and refinance Anooraq and the Bokoni group.
The refinancing is designed to ensure Anooraq and the Bokoni group are able to carry through the growth plans through to 2020.
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