(Adds details on growth strategy, chief executive quotes)
By Sherilee Lakmidas
JOHANNESBURG, FEB 27 – African Rainbow Minerals
, a South African diversified miner, said on Monday it
was interested in acquiring Anglo American Platinum
assets if they became available.
Anglo American, which holds 80 percent of Amplats,
said earlier this month that it was reviewing its investment in
the world’s largest platinum producer.
The platinum business has not matched the production,
productivity and safety levels of earlier years while returns
have been in decline.
While Anglo has not ruled out spinning off what would be a
$15 billion asset, analysts believe it is more likely to sell
the mines or close certain shafts.
“We are very, very close to Anglo Platinum, we know all the
inside discussions and we are engaging in that. I think
something can come out of that,” ARM Chief Executive Officer
André Wilkens told Reuters in an interview after the group
unveiled its first-half results.
ARM, which has a 50 percent stake in two South African
platinum mines, Modikwa and Two Rivers, is also evaluating three
acquisitions in the platinum sector that could cost up to 6
billion rand ($790 million).
“There are three opportunities we are looking at and those
together will probably require purchase money of 5 or 6 billion
rand and then we need to capitalise those assets,” he said.
Continued…
