AngloPlat completes BEE deal

February 14, 2007

Anglo Platinum, the world's largest platinum producer, has concluded an empowerment transaction with the Bakgatla-Ba-Kgafela community to acquire a 15 percent interest in the company's Rustenburg Platinum Mines' Union section and stakes in prospecting rights...

Anglo Platinum says it will take a BEE compensation charge or accounting loss of R218-million, but says it will also result in the company having the unencumbered right to mine the Spitskop property and surface rights which it values at R210-million.

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