https://www.engineeringnews.co.za

RBPlat receives R2bn upfront payment from Triple Flag

3rd February 2020

By: Marleny Arnoldi

Online News Editor

     

Font size: - +

JSE-listed Royal Bafokeng Platinum (RBPlat) has the received the upfront cash prepayment of $145-million, or R2.1-billion, from Triple Flag Mining Finance Bermuda.

This relates to a gold streaming agreement entered into in October last year, whereby RBPlat would deliver gold to Triple Flag from its South African mining operations.

The prepayment proceeds have been used to fully settle the R1.8-billion that was owing to Rustenburg Platinum Mines, for the acquisition of the remaining 33% interest in the Bafokeng Rasimone Platinum Mine joint venture it did not previously own.

Triple Flag will pay a further 5% of the gold spot price to RBPlat for each gold ounce delivered under the agreement.

RBPlat produces gold as a by-product of platinum group metals production, with gold accounting for about 3% of its revenue.

Triple Flag will receive 70% of RBPlat’s gold production up to 261 000 oz, and after the delivery of 261 000 oz, Triple Flag will receive 42% of gold production for the remaining life-of-mine.

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

Showroom

Sika South Africa
Sika South Africa

Sika South Africa is a trusted partner for the nation’s infrastructure, commercial, residential, and industrial sectors.

VISIT SHOWROOM 
Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

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:0.055 1.354s - 140pq - 2rq
Subscribe Now