Sibanye Gold in talks to buy Anglo platinum mines
Sibanye Gold says it is negotiating the acquisition of Anglo American Platinum's Rustenburg assets. Shareholders should "exercise caution" when trading, until a further announcement was made, the company said yesterday.Its shares rose 3.2% to R16.30 by late afternoon in Johannesburg, reversing an earlier decline of 1.3%."No further detail can be provided at this stage and it is possible that no transaction will be consummated," Sibanye said.The gold producer got a $350-million debt facility in August and has been interested in buying South African platinum mines to diversify its asset base.Anglo American Platinum, known as Amplats, is planning to divest three Rustenburg mines and the Union mine as it prioritises shallower and more mechanised operations, such as the Mogalakwena pit.Amplats rose by 2.4% to R329 a share in Johannesburg, yesterday, rebounding from an earlier decline of 2.6%. ..
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