12 Oct Northam acquires Anglo Platinum mining right for $72 million
Northam Platinum announced a US$72 million deal to acquire a mining right from Anglo American Platinum (Amplats) to extend the life of its Zondereinde mine.
South Africa’s Northam will be able to extend Zondereinde’s mine life, the world’s deepest mine, beyond 30 years.
Once completed Northam will acquire Amplats Amandelbult mining right which is next to, or contiguous with, the North-Western boundary of Zondereinde.
“The acquired resource is of high quality, is well understood by Northam and allows us to better leverage the existing Zondereinde infrastructure,” Northam CEO Paul Dunne said in the statement. “The additional resource also enables Northam to continue mining higher-grade Merensky ore for a longer period, with relatively low incremental capital expenditure.”