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S.Africa's Amplats sells Rustenburg mines to Sibanye for $331 mln

Reuters - UK Focus

JOHANNESBURG, Sept 9 (Reuters) - Anglo American Platinum (Amplats) on Wednesday sold its labour-intensive South African mines to bullion producer Sibanye Gold (Other OTC: SBGLF - news) for 4.5 billion rand ($331 million) to focus on newer, mechanised mines.

A record five-month strike at Amplats' Rustenburg operations and at mines owned by rivals Impala Platinum (Other OTC: IMPUF - news) and Lonmin forced the company sell underperforming shafts.

The mines combined employ 16,000 workers.

"We remain committed to pursuing our strategy, continuing to reposition Anglo American Platinum as a high quality, largely mechanised operator yielding high margins," the company said in a statement.($1 = 13.6010 rand) (Reporting by Zandi Shabalala; Editing by Tiisetso Motsoeneng)