News Bureau

 
 
November 20, 2020

Sedibelo Platinum at sales process!

Gemfields Group Limited announces that it has commenced a sale process for its 23.65% equity holding in Pallinghurst Ivy Lane Capital S.à r.l, a company incorporated in Luxembourg (Ivy Lane). Ivy Lane in turn owns 27.64% of Sedibelo Platinum Mines Limited giving Gemfields an effective and indirect interest in SPM of approximately 6.54%.

As previously announced, SPM is not considered a core part of Gemfields’ strategy. SPM is a public company incorporated in Guernsey and owns and operates the Pilanesburg Platinum Mines located in South Africa’s Bushveld Igneous Complex.

In its financial year ending 31 December 2019, SPM dispatched and sold approximately 127,000 4E ounces (comprising platinum, palladium, rhodium and gold) and generated EBITDA of approximately USD 13 million.

Interested parties should contact Liberum Capital Limited, who has been appointed by Gemfields to manage the sale.

 

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