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

Fri Aug 14, 2015 10:24am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

JOHANNESBURG Aug 14 (Reuters) - Canada's Atlatsa Resources said on Friday it is still in talks with Anglo American Platinum 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 fell by more than a third over the last year due to oversupply and growth concerns in top consumer China. (Reporting by Zandi Shabalala; Editing by James Macharia)