JOHANNESBURG, March 27 (Reuters) - South Africa’s Anglo American Platinum (Amplats) said on Wednesday it would acquire two mining assets and inject capital into Atlatsa Resources as part of a 3.5 billion rand ($380 million) restructuring of the debt-laden miner.
Atlatsa, a platinum miner 26 percent owned by Amplats, will sell two assets - the eastern section of the Ga-Phasha project and the Boikgantsho project - to Amplats for 1.7 billion rand.
It will also sell 125 million new shares for 750 million rand to Amplats.
The proceeds from both deals will be used to reduce Atlatsa debt owed to Amplats by 75 percent.
Amplats will also provide a new loan of 720 million rand to the company and a working capital facility of 90 million rand.
In order to simplify Atlatsa’s capital structure, which currently includes preference shares, Amplats will sell some of its stake in Atlatsa back to the company, reducing its share holding to 22.6 percent.
Shares of Amplats, a unit of global miner Anglo American, fell nearly 4 percent.