{"id":8394,"date":"2012-02-28T02:39:16","date_gmt":"2012-02-28T00:39:16","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/update-2-african-rainbow-interested-in-amplats-assets\/"},"modified":"2012-02-28T02:39:16","modified_gmt":"2012-02-28T00:39:16","slug":"update-2-african-rainbow-interested-in-amplats-assets","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-2-african-rainbow-interested-in-amplats-assets\/","title":{"rendered":"UPDATE 2-African Rainbow interested in Amplats assets"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>(Adds details on growth strategy, chief executive quotes)<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>By Sherilee Lakmidas<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, FEB 27 &#8211; African Rainbow Minerals<br \/>\n, a South African diversified miner, said on Monday it<br \/>\nwas interested in acquiring Anglo American Platinum<br \/>\nassets if they became available.<\/p>\n<p><span><\/span><\/p>\n<p>Anglo American, which holds 80 percent of Amplats,<br \/>\nsaid earlier this month that it was reviewing its investment in<br \/>\nthe world&#8217;s largest platinum producer.<\/p>\n<p><span><\/span><\/p>\n<p>The platinum business has not matched the production,<br \/>\nproductivity and safety levels of earlier years while returns<br \/>\nhave been in decline.<\/p>\n<p><span><\/span><\/p>\n<p>While Anglo has not ruled out spinning off what would be a<br \/>\n$15 billion asset, analysts believe it is more likely to sell<br \/>\nthe mines or close certain shafts.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We are very, very close to Anglo Platinum, we know all the<br \/>\ninside discussions and we are engaging in that. I think<br \/>\nsomething can come out of that,&#8221; ARM Chief Executive Officer<br \/>\nAndr\u00e9 Wilkens told Reuters in an interview after the group<br \/>\nunveiled its first-half results.<\/p>\n<p><span><\/span><\/p>\n<p>ARM, which has a 50 percent stake in two South African<br \/>\nplatinum mines, Modikwa and Two Rivers, is also evaluating three<br \/>\nacquisitions in the platinum sector that could cost up to 6<br \/>\nbillion rand ($790 million).<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;There are three opportunities we are looking at and those<br \/>\ntogether will probably require purchase money of 5 or 6 billion<br \/>\nrand and then we need to capitalise those assets,&#8221; he said.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Adds details on growth strategy, chief executive quotes) By Sherilee Lakmidas JOHANNESBURG, FEB 27 &#8211; 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 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-8394","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8394","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=8394"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8394\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8394"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8394"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8394"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}