Amplats’ sale of Union mine, MASA Chrome to Siyanda to conclude on Feb 1

Platinum miner Anglo American Platinum (Amplats) has completed the necessary conditions relating to the sale of its 85% interest in the Union mine and its 50.1% interest in MASA Chrome Company, by its wholly owned subsidiary Rustenburg Platinum Mines, to a subsidiary of Siyanda Resources. The effective date of completion is February 1, when Siyanda will take over ownership, control and management of these operations.    The upfront disposal proceeds of R400-million will be received in the form of cash and will be used to reduce net debt and further strengthen Amplats’ balance sheet.