By Anthony O. Goriainoff

Anglo American Platinum Ltd. said on Monday that it sold its 50% interest in the Kroondal and Marikana Pool-and-share Agreements to Sibanye-Stillwater Ltd. for 1 rand (6 cents).

The South African miner said the conditional transaction will extend the project's life-of-mine, and that Sibanye will take over all closure costs and rehabilitation liabilities.

"By enabling Kroondal to mine through the boundary at Sibanye-Stillwater's Rustenburg operations, we will extract our attributable share of the Kroondal reserves more quickly and efficiently than under the previous mine plan, unlocking greater value for Anglo American Platinum and Sibanye-Stillwater," the company said.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

January 31, 2022 01:42 ET (06:42 GMT)

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