Atlatsa incurs $292m loss
TORONTO- and Johannesburg-listed platinum mining company Atlatsa, which has platinum assets on the northern and eastern limbs of the Bushveld Complex, incurred a net loss of $292.6-million in the nine months to September 30, when its liabilities exceeded its assets by $142.5-million.
The main reasons for the loss were a decrease in production volumes at Atlatsa’s Bokoni mine, as well as the impairment of property, plant and equipment.
Bokoni’s operations remain cash negative after capital expenditure and Bokoni shareholders are no longer able to continue funding the mine’s losses, given the absence of reasonable turnaround prospects in the short to medium term.
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