Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Amplats looking to float South African mines - sources

Published 12/06/2015, 10:53
Updated 12/06/2015, 10:54
© Reuters. File photo of trucks leaving an AMPLATS processing plant near Rustenburg
AA
-
AAL
-
AMSJ
-

JOHANNESBURG (Reuters) - Anglo American (LONDON:AAL) Platinum (J:AMSJ) is considering floating its labour-intensive South African mines around Rustenburg on the stock market rather than selling them because the offers it has received are too low, a company and banking source said on Friday.

"It is definitely on the table now because the offers that are coming in just aren't high enough," one senior Amplats source, who did not wish to be named, told Reuters.

One Johannesburg-based investment banker also said the company, commonly known as Amplats, had received a few offers for its Union Mine and three others near Rustenburg but had "thrown them into the dustbin" because they were too low.

The Anglo American (L:AA) subsidiary is in the middle of a shake-up that includes selling off underperforming assets in an attempt to recover from a five-month long strike last year.

© Reuters. File photo of trucks leaving an AMPLATS processing plant near Rustenburg

It said in February it hoped to complete the review and decide whether to sell or list its Union and Rustenburg mines by the end of the first half this year, after evaluating offers for the assets from two shortlists of companies.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.