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Canada's Atlatsa seeking cash from S.Africa's Amplats

Published 2015-08-14, 10:24 a/m
© Reuters. Canada's Atlatsa seeking cash from S.Africa's Amplats

JOHANNESBURG, Aug 14 (Reuters) - Canada's Atlatsa Resources
ATL.TO ATLJ.J said on Friday it is still in talks with Anglo
American Platinum AMSJ.J about financial support as the
company seeks funding following a drop in metal prices.
Toronto-based Atlatsa, which has a joint venture platinum
mine with Amplats, said in a statement it was also in talks
about the sustainability of the Bokoni mine.
South Africa's mining industry is battling falling metal
prices, rising costs, labour unrest and thinning profits.
Atlasta delayed reporting its interim results, citing
"uncertainties surrounding its operations". The results were due
to be released on Friday.
"Significant doubt remains regarding the company's ability
to continue as a going concern. No assurances can be given that
the issues being faced by the company will be resolved," Atlasta
said.
Atlatsa de-listed from the New York Stock Exchange in July
as part of cost cutting measures.
The spot price of platinum XPT= fell by more than a third
over the last year due to oversupply and growth concerns in top
consumer China.

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