ANGLO AMERICAN PLAT LTD - Anglo American Platinum Limited Announces The Approval Of The Indigenisation Implementation Plan At Unki

Anglo American Platinum Limited Announces The Approval Of The Indigenisation Implementation Plan At Unki

ANGLO AMERICAN PLATINUM LIMITED
Incorporated in the Republic of South Africa
Registration number 1946/022452/06
Share code: AMS
ISIN: ZAE000013181
(“Anglo American Platinum” or “the Company”)

ANGLO AMERICAN PLATINUM LIMITED ANNOUNCES THE APPROVAL OF THE
INDIGENISATION IMPLEMENTATION PLAN AT UNKI BY THE ZIMBABWEAN
MINISTER OF YOUTH DEVELOPMENT, INDIGENISATION AND EMPOWERMENT


Anglo   American  Platinum   Limited   (Anglo  American   Platinum)
announces the approval of the proposed 51% indigenisation
implementation plan at Unki Mines (Private) Limited (Unki) by the
Minister of Youth Development, Indigenisation and Empowerment.

This transaction is the culmination of the originally envisaged
process to develop Unki in partnership with the people of
Zimbabwe.

The proposed transaction will be facilitated through a notional
vendor financing structure and includes the following shareholding
structure:

- 10% equity ownership transaction with a trust established for
the benefit of the community surrounding Unki’s operations;
- 10% equity ownership transaction with a trust to be established
for the benefit of all full time employees of Unki;
- 10% equity ownership transaction with a consortium of strategic
equity partners;
-   21%   equity   ownership    transaction   with   the   National
Indigenisation and Economic Empowerment Fund.

The disposal of equity under the indigenisation implementation
plan will be undertaken at a market-related valuation of Unki
adjusted for debt and is subject to the requisite Anglo American
Platinum board and statutory approvals, as may be required. The
acquisition price will be repaid from future dividends and Anglo
American Platinum intends to implement the indigenisation plan by
30 June 2013. The expected economic cost to Anglo American
Platinum of the empowerment plan is US$59.3 million, which equates
to 12.9% of the enterprise value of Unki at date of transaction.
The Government of Zimbabwe has also agreed that it will ensure
Anglo American Platinum receives payment of the amount of $142
million due to it for the cession of the Kironde and Bougai
mineral right claims in March 2008. The payment of the $142
million is in lieu of empowerment credits due per the March 2008
cession of claims agreement and is in addition to amounts that
will be receivable in respect of the disposal of the 51% equity in
Unki.
“Anglo American Platinum continues to contribute significantly to
the upliftment of its host communities and its employees in South
Africa and will leverage this experience to ensure the successful
and seamless implementation of this transaction in Zimbabwe”
commented July Ndlovu, Chairman of Unki.

Ndlovu further noted that “the success of this transaction is
dependent on further engagement and consultation with affected
stakeholders   and  consequently,   forms  part   of an  on-going
engagement programme with the Government of Zimbabwe, Unki’s host
communities, employees and other key stakeholders.”


For further information, please contact:


Investors:                                 Media:
Kgapu Mphahlele                            Mary Jane Morifi
+27 (0) 11 373 6239                        +27 (0) 11 373 6638
kgapu.mphahlele@angloamerican.com
mary-jane.morifi@angloamerican.com

Mpumi Sithole
+27 (0) 11 373 6246
mpumi.sithole@angloamerican.com


Notes to editors:

Anglo American Platinum Limited is a member of the Anglo American
plc Group and is the world’s leading primary producer of platinum
group metals. The company is listed on the Johannesburg Securities
Exchange (JSE). Its mining, smelting and refining operations are
based in South Africa. Elsewhere in the world, the Group owns Unki
Platinum Mine in Zimbabwe and is actively exploring in Brazil.
Anglo American Platinum has a number of joint ventures with
several historically disadvantaged South African consortia as part
of its commitment to the transformation of the mining industry.
Anglo American Platinum is committed to the highest standards of
safety and continues to make meaningful and sustainable difference
in the development of the communities around its operations.
www.angloamericanplatinum.com

Anglo American is one of the world’s largest mining companies, is
headquartered in the UK and listed on the London and Johannesburg
stock exchanges. Anglo American’s portfolio of mining businesses
spans bulk commodities – iron ore and manganese, metallurgical
coal and thermal coal; base metals – copper and nickel; and
precious metals and minerals – in which it is a global leader in
both platinum and diamonds.   Anglo American is committed to the
highest standards of safety and responsibility across all its
businesses and geographies and to making a sustainable difference
in the development of the communities around its operations. The
company’s mining operations, extensive pipeline of growth projects
and exploration activities span Southern Africa, South America,
Australia, North America, Asia and Europe. www.angloamerican.com

Johannesburg
2 November 2012

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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