Bokoni Mine definition

Bokoni Mine or “Bokoni” means Bokoni is an operating mine located on the north-eastern limb of the Bushveld Complex, situated in the Sekhukhune-land District of the Limpopo Province, South Africa. Bokoni Mines also includes the Avoca and Klipfontein mineral properties (previously part of Ga-Phasha), which were consolidated with the Bokoni Mine’s activities on December 13, 2013. Bokoni Mine was placed on care and maintenance on October 1, 2017;
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Bokoni Mine means the mine known as “Bokoni Platinum Mine" operated by the Target Firm;
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Bokoni Mine means Bokoni Platinum Mines (Proprietary) Limited, an indirect subsidiary of the Company and a private company incorporated under the laws of South Africa;
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Examples of Bokoni Mine in a sentence

  • Capital work-in-progress consists of mine development and infrastructure costs relating to the Bokoni Mine and will be transferred to property, plant and equipment when the relevant projects are commissioned.

  • Anglo American Platinum has agreed to fund, directly or indirectly, via a loan account to Bokoni Mine, 51% of all one-off costs associated with placing Bokoni Mine on care and maintenance, as well as ongoing care and maintenance costs, up until December 31, 2019.

  • Pursuant to the terms of various shared services agreements, the Anglo American Platinum group of companies will continue to provide certain services to Bokoni Mine at a cost that is no greater than the costs charged to any other Anglo American Platinum group company for the same or similar services.

  • The Bokoni Shareholders have therefore agreed to implement the 2017 Restructure Plan as the most appropriate strategy, having regard to long term asset value preservation and potential future sustainability of Bokoni Mine.

  • The immediate to medium term outlook for Bokoni Mine remains negative, given the current weak PGM pricing environment which is expected to remain under pressure for the foreseeable future.In addition to investigating the various mine re-configuration options, the Bokoni Shareholders have also actively investigated various potential funding and corporate ownership alternatives, including seeking to introduce new funding partners and/or a disposal of Bokoni Mine.

  • The following summary describes the operations in each of the Group’s reportable segments:• Bokoni Mine – Mining of PGM’s.• Projects – Mining exploration in Kwanda exploration projects.

  • Relationships Related partyNature of relationshipRPMThe Group concluded a number of shared services agreements between Bokoni Mine and RPM, a wholly owned subsidiary of Anglo American Platinum and a 49% shareholder in Bokoni Holdco.

  • GOING CONCERN continued2017 Restructure PlanThe salient terms of the Letter Agreement are as follows: Phase 1:• Atlatsa to place the Bokoni Mine on care and maintenance;• Anglo American Platinum to fund all costs associated with the care and maintenance process up until December 31, 2019; and• Anglo American Platinum to suspend servicing and repayment of all current and future debt owing by the Group until December 31, 2019 (“Debt Standstill”).

  • Detail of Phase 1: Bokoni Mine care and maintenance and Debt StandstillBokoni Mine was placed on care and maintenance as of October 1, 2017.

  • Management has assessed the impact of the above-mentioned standards, and do not believe that there will be a significant impact to the financial statements given the current care and maintenance phase of Bokoni Mine.


More Definitions of Bokoni Mine

Bokoni Mine means the PGM mine, located on the Eastern Limb of the Bushveld Complex in South Africa on the Diamond, Wintersveld, Jagdlust, Middelpunt, Umkoanesstad Zeekoegat, Avoca and Klipfontein farms, formerly named the Lebowa Platinum Mine;
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Related to Bokoni Mine

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  • Mineral means gas, oil, and coal; other gaseous, liquid, and solid hydrocarbons; oil shale; cement material; sand and gravel; road material; building stone; chemical raw material; gemstone; fissionable and nonfissionable ores; colloidal and other clays; steam and other geothermal resources; and any other substance defined as a mineral by a law of this state.

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  • SWDocID [[6027980]]" "" [[6027980]] elect or decline, in its sole discretion, to provide a New Commitment. Such New Commitments shall become effective as of such Increased Amount Date, and in the case of Incremental Term Loans, shall be made on such Increased Amount Date; provided that (i) the conditions set forth in paragraphs of (b) and (c) of Section 4.02 shall be satisfied or waived by the Required Lenders on such Increased Amount Date before or after giving effect to such New Commitments and Loans; (ii) such increase in the Revolving Facility Commitments and/or the Incremental Term Loans shall be evidenced by one or more joinder agreements executed and delivered to Administrative Agent by each New Lender, as applicable, and each shall be recorded in the register, each of which shall be reasonably satisfactory to the Administrative Agent and subject to the requirements set forth in Section 2.17(f); and (iii) the Borrower shall make any payments required pursuant to Section 2.16 in connection with the provisions of the New Commitments; provided that, with respect to any Incremental Term Loans incurred for the primary purpose of financing a Limited Conditionality Acquisition (“Acquisition-Related Incremental Term Loans”), clause (i) of this sentence shall be deemed to have been satisfied so long as (A) as of the date of execution of the related Limited Conditionality Acquisition Agreement by the parties thereto, no Default shall have occurred and be continuing or would result from entry into such Limited Conditionality Acquisition Agreement, (B) as of the date of the borrowing of such Acquisition-Related Incremental Term Loans, no Event of Default under Section 7.01(a), 7.01(b), 7.01(h) or 7.01(i) is in existence immediately before or after giving effect (including on a Pro Forma Basis) to such borrowing and to any concurrent transactions and any substantially concurrent use of proceeds thereof, (C) the representations and warranties of the Loan Parties set forth in this Agreement and the other Loan Documents shall be true and correct in all material respects as of the date of execution of the applicable Limited Conditionality Acquisition Agreement by the parties thereto, except to the extent any such representations or warranties are expressly limited to an earlier date, in which case such representations and warranties shall be true and correct in all material respects as of such specified earlier date (provided that no materiality qualifier set forth in this subclause (C) shall be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof) and (D) as of the date of the borrowing of such Acquisition-Related Incremental Term Loans, customary “Sungard” representations and warranties (with such representations and warranties to be reasonably determined by the Lenders providing such Acquisition-Related Incremental Term Loans) shall be true and correct in all material respects immediately before and after giving effect to the incurrence of such Acquisition-Related Incremental Term Loans, except to the extent any such representations or warranties are expressly limited to an earlier date, in which case such representations and warranties shall be true and correct in all material respects as of such specified earlier date (provided that no materiality qualifier set forth in this subclause (D) shall be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof).

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