May 30, 2017

South African community to co-own Anglo American joint venture

Anglo American Platinum (Amplats) has kicked off their centenary celebrations with a partnership between Amplats’ wholly-owned Rustenburg Platinum Mines and Baphalane Siyanda Chrome Company.

The miner launched a new atomatic chrome recovery plant in the Amandelbult complex in Limpopo, on Wednesday.

The R474 million plant, which will produce commercial grade chromite concentrate, was constructed, financed and commissioned by Amplats during 2016.

The plant will be co-owned by the community of Baphalane Ba Mantserre, in line with Amplats’ commitment to broad-based empowerment, and its commitment to economic transformation.

Commenting on the community co-ownership, Chris Griffith, CEO, Anglo American Platinum said, “The joint venture with the Baphalane Ba Mantserre community is directly in line with Anglo American Platinum’s strategy of empowering surrounding communities through value-generating transactions.

“This transaction will create long-term, sustainable empowerment and aligns with our strategy of identifying capital-light projects to generate further value from existing assets.”
Griffith added while commenting on the launch, “As joint venture partners in this project, the community will sustainably share in the benefits created by mining on their doorstep.”

Lindani Mthwa, chairperson, Siyanda Resources said, “We bring our proven expertise in chrome extraction to this exciting new venture.

“We are proud to partner with Anglo American Platinum and the community of Mantserre. We believe that this partnership has all the ingredients to succeed now and into the future.”

The plant is expected to reach steady state production by the end of H1 2017

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