26 Jun 2015 10:45
AQUARIUS PLATINUM LIMITED - Sale of Everest MineAQUARIUS PLATINUM LIMITED - Sale of Everest Mine
PR Newswire
London, June 26
AQUARIUS PLATINUM LIMITED
26 June 2015
Sale of Everest Mine – Receipt of Part A proceeds - R400 million.
Aquarius Platinum Limited (Aquarius) announced on 10 February 2015 that its subsidiary, Aquarius Platinum (South Africa ) (Pty) Ltd (AQPSA), had entered into an agreement to sell its entire interest in the Everest Mine and ancillary mining and processing infrastructure and immovable properties to Northam Platinum Limited (Northam), for an aggregate cash consideration of R450 million, to be completed in two parts, being R400 million for the concentrator and other mining assets of Everest Mine (Part A) plus R50 million for the Everest Mining Right (Part B).
Aquarius is pleased to advise that proceeds of R400 million (Part A) was received today.
Part B of the disposal process is subject to the consent of the Minister of Mineral Resources in terms of section 11 of the Mineral and Petroleum Resources Development Act. The section 11 application has been submitted to the Department of Mineral Resources.
Should the Ministerial Consent not be obtained the first part of the Disposal will not be unwound.
For further information please contact:
| In South Africa:Jean NelAquarius Platinum (South Africa) (Pty) Ltd +27 (0) 10 001 2848In Australia:Willi BoehmAquarius Platinum Corporate Services Pty Ltd+61 (0) 8 9367 5211 | |
| or visit: www.aquariusplatinum.com |