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Bokoni is down, but ...
The National Union of Mineworkers (NUM) can confirm that it In the circumstances, the Bokoni JV Partners are no longer able
received Section 189 notice from Bokoni Platinum in Limpopo to to continue funding losses at the mine with no reasonable short to
retrench 2 651 workers. The number excludes contractors and it is medium term turnaround prospects. The Bokoni JV Partners have
much higher. therefore agreed to implement the 2017 Restructure Plan as the
The decision by Bokoni Platinum will lead to high rate of unem- most appropriate strategy, having regard to long term asset value
ployment in surrounding communities and dozens of families would preservation and potential future sustainability of Bokoni Mine.
be plunged into poverty. We call on Bokoni Platinum to return the min- Subsequent to implementation of the 2017 Restructure Plan
ing licence to the Department of Mineral Resources so that interested Atlatsa said that
companies must take over. This company does not have the interest Atlatsa and Anglo American Platinum will retain their 51% and
of the workers and the surrounding communities at all. They only care 49% respective shareholdings in the Bokoni Mine and Anglo Amer-
about profit, said Phillip Mankge, NUM North East Regional Secre- ican Platinum and Atlatsa will continue to investigate opportunities
tary in a media release after last week Fridays shock announcement for either or both parties to divest of their interests in the Bokoni
that this joint venture between Atlatsa Resources and Anglo American Joint Venture.
Platinum, situated at Atok about halfway between Burgersfort and Meanwhile chrome can just be the knight in shining armour for
Polokwane can financially no longer continue. the area.
Said NUM: We, therefore, request the company to reconsider Speaking to Platinum Gazette after an address to the annual
their position of Section 189 and come on board to deal with the Samancor Chrome Site Indaba at Winterveld on Wednesday, the
issues raised by the union in the proper structural meeting. companys CEO, Mr Jrgen Schalamon, said the company, af-
Following the announcement Atlatsa will place the Bokoni Mine ter successfully recalling personnel after a traumatic Section 189
operations on care and maintenance as soon as reasonably possible. experience, is on a strong growth path for the future. Apart from Not much happening at Jagdlust at the
Anglo American Platinum has agreed to fund, via a loan account to acquiring the old ASA Metals smelters at Dilokong to accommodate moment (top), but that may soon change ac-
Bokoni Mine, all once-off costs associated with placing the mine on anticipated increased chrome output, the company will also proba- cording to Mr Jrgen Schalamon Samancor
care and maintenance, as well as ongoing care and maintenance bly tender for the Dilokong Chrome Mine once the mines business Chrome CEO (bottom).
costs, up until 31 December 2019. rescue plan comes into fruition.
Making the announcement of putting operations at Bokoni on ice, Mr Schalamon said a Japanese investment vehicle in which
Atlatsa said All of the options assessed demonstrate significant cash our minority shareholder, Hanwa, partnered with a Japanese gov-
outflows in the short to medium term with material execution risk. The ernment entity, acquired 29 percent of our shares and share our
immediate to medium term outlook for Bokoni Mine remains negative, optimism for the future.
given the current weak PGM1 pricing environment which is expected Apart from expansion at existing mining assets, the company is
to remain under pressure for the foreseeable future. also set to proceed with the establishment of mining activities along
In addition to investigating the various mine re-configuration op- the R37 road between Burgersfort and Atok at Lwala and Jagdlust,
tions, the Bokoni JV Partners have also actively investigated various not too far off from Bokoni. Mr Schalamon lamented the possible
potential funding and corporate ownership alternatives, including negative impact of illegal mining in the area, but has disclosed that
seeking to introduce new funding partners and/or a disposal of Bokoni security are currently safeguarding the mines assets in the area
Mine. However, given Bokonis current operational challenges, contin- where the future mining will take place. We are of course sad-
ued operational losses and negative cash generation, the depressed dened by the problems of platinum in the area, he told the news-
PGM environment, the negative medium term PGM pricing outlook paper, but we plan to invest in chrome mining and as such also
and Atlatsa Groups significant debt levels, attempts to implement in communities and our employees in the area for the foreseeable
such alternatives have proven unsuccessful. future, he said.
Fetakgomo Greater Tubatse Tel 0832719151 (Editorial) 0835431676 (Advertisements) email: adverts@platinumgazette.com
Burgersfort, Steelpoort, Ohrigstad, Apel 28 July 2017 Fax 0865549031 / 013 231 7147 editorial@platinumgazette.com
2 NEWS 28 JULY 2017
SAPS talk to
churchgoers
at Longtill
On 16 July the SAPS Burgersfort and
Youth CPF visited Corner Stone Church
at Longtill.
They spoke to the congregation about
domestic violence, fraud at banks,
housebreaking and theft as well as
neighbourhood watch.
(Photographs and information: Consta-
bel V. Maluleka, Burgersfort SAPS).
4 Advertorial 28 JULY 2017
27
But I say unto you which hear, Love your enemies, do good to them
which hate you,
28
Bless them that curse you, and pray for them which despitefully use
you.
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