https://www.engineeringnews.co.za

Bokoni strike contributes to Atlatsa’s $18.7m 2012 operating loss

28th March 2013

By: Idéle Esterhuizen

  

Font size: - +

JOHANNESBURG (miningweekly.com) – Toronto- and New York-listed Atlatsa Resources Corporation recorded an operating loss attributable to shareholders of $18.7-million, translating into a basic and diluted loss of 4c a share, for the 2012 financial year.

This was in large part owing to the negative financial impact of an unprotected strike in October last year at the company’s Bokoni mine, on the northeastern limb of South Africa’s Bushveld Complex, which led to almost no production at the operations during the fourth quarter of the year.

Atlatsa recognised a fair value gain at year-end of $90.6-million arising from the implementation of Phase One of the revised restructure plan of its Bokoni group of companies, which took place in September last year and had a material positive impact on the company’s earnings for the period under review.

Atlatsa Resources Corporation and mining major Anglo American Platinum (Amplats) on Wednesday concluded a R3.5-billion revised restructuring, recapitalisation and refinancing plan for Atlatsa and the Bokoni group of companies.

The came as a strategic review suggested that Atlatsa was likely to be unable to repay a R3.3-billion debt to Amplats in the medium term.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Latest News

SKAO director-general Prof Jessica Dempsey
The SKA Observatory has a new head
2nd June 2026 By: Rebecca Campbell

Showroom

Columbus Stainless
Columbus Stainless

Columbus Stainless, based in Middelburg, Mpumalanga, is Africa’s only producer of stainless steel flat products. In addition, Columbus is the only...

VISIT SHOWROOM 
Kriel Occupational Health Centre
Kriel Occupational Health Centre

Occupational health services, mobile clinics, wellness campaigns, aviation.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.098 1.159s - 140pq - 2rq
Subscribe Now