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IDC-backed community group Baroka ba Nkwana interested in buying Bokoni from Amplats

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COMMUNITY group Baroka ba Nkwana has submitted an expression of interest in the Bokoni mine, the Limpopo province mine that was written down for R4.5bn by Anglo American Platinum (Amplats) in 2017.

BusinessLive said it had documents showing that the community’s Ayana Baroka group, backed by the government-owned Industrial Development Corporation, wanted to buy Bokoni mine. Amplats shut the mine after years of failing to extract a profit.

A letter of commitment from the IDC said the state-owned development finance institution would consider funding the deal if the consortium is selected as the preferred bidder, said BusinessLive citing the expression of interest document.

Amplats did not confirm or deny if it had received the expression of interest from the Baroka-led consortium, but said the process to sell its interest in the business had started with a number of parties having already shown interest.

“A number of parties have expressed an interest in the asset and are included in the formal sale process, which has commenced and is at an early stage,” Jana Marais, spokesperson for Amplats told BusinessLive. “Our aim is to find a credible buyer with the ability to fund, restart and operate Bokoni safely and responsibly post-disposal,” she said.

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Bokoni Platinum Mines has been an exhausting process for Amplats; even as Lebowa Platinum, the assets were problematic. Its closure was problematic for the Limpopo community situated near Atok, some 90 kilometres from Pholokwane, as the mine provided one of the few sources of livelihood in the area.

Source : miningmx.com

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