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Amplats mulls selling Twickenham, Bokoni platinum mines, focus on Mogalakwena

Anglo American Platinum Ltd., or Amplats, is mulling the sale of its Bokoni and Twickenham platinum mines in South Africa as part of its divestment strategy, Reuters reported May 17, citing CEO Chris Griffith.

The Anglo American PLC unit put the Bokoni joint venture with Atlatsa Resources Corp. on care and maintenance in October 2017, and ceased operations at the Twickenham mine in 2016.

"It's a good environment to come back to the market for Bokoni," Griffith said.

Amplats will shift focus to its flagship Mogalakwena mine, Griffith said, who added that the company could pay higher dividends in 2020.

Ongoing studies at Mogalakwena are reviewing the potential to increase output by 500,000 ounces of platinum group metals, from 1.2 million ounces produced in 2018, in the next four to five years.

The company may add a third concentrator to increase output at the mine, and is also looking at constructing a solar project at Mogalakwena to produce 75 to 100 MW of power at a cost of 1 billion South Africa rand.

Griffith said he anticipates taking the solar project proposal to the board in the next couple of months.