MajorsApr 01, 2026
Foundrae Sues Pandora for Allegedly Copying Its Medallion DesignsFoundrae also accused the jewelry giant of copying its mood board style of marketing.
SourcingFeb 16, 2017
Anglo American Sells One of Its Platinum Mines
The news comes one day after the diamond and precious metal miner announced that Chairman John Parker will be stepping down this year.
Workers exiting the Union platinum mine in South Africa. Anglo American Platinum is selling its stake in the mine to Siyanda Resources but said that all 5,100 employees of the mine will keep their jobs. (Photo courtesy of Anglo American)
London--Anglo American plc, which is the world’s leading producer of platinum group metals and majority owner of De Beers, announced Wednesday that it is selling one of its platinum mines.
Anglo American Platinum (Amplats) is selling its 85 percent stake in the Union Mine in Rustenburg, South Africa, along with its 50.1 percent interest in MASA Chrome Company to a subsidiary of Siyanda Resources for R400 million (about $30 million) in cash, as well as share of future earnings for a period of 10 years.
Amplats is retaining its Mortimer smelter operation.
Under the agreement, Siyada will sell ore concentrate from Union to Amplats on pre-agreed commercial terms for a period of seven years after the transaction closes. After that, Amplats said it will toll treat concentrate for the remaining life of the mine.
British daily newspaper The Times reported that Amplats, which was hit hard by labor strikes in South Africa in 2014 and 2015, is selling Union in order to focus on more modern, automated platinum mining operations.
Johann Wiebe, an analyst with Thomson Reuters based in London, added that mining companies like Amplats are operating on thin, or in some cases nonexistent, margins due to the drop in the price of platinum and cost inflation, and are looking to sell off non-core assets to become more financially sound.
Amplats will use the money from the Union Mine sale to pay down debt, he said.
An Anglo American spokesperson said that the mine employs 5,100 people and that, under South Africa’s Labour Relations Act, they all will retain their jobs and become employees of Siyanda.
Union is one of 15 platinum group metal mines that Amplats has a stake in or owns. Other include the Dishaba, Mogalakwena and Tumela mines in South Africa as well as the Unki Concentrator Plant in Zimbabwe.
Union accounted for about 7 percent of Amplats’ total production in 2016.
The transaction is subject to regulatory approval in South Africa and is expected to close this year.
He
will stay on as chairman until the company finds a replacement. Sir Philip Hamilton, Anglo’s senior independent director, is leading the search to replace Parker.
Anglo American plc is scheduled to release its preliminary full-year financials, which will include results for De Beers, on Feb. 21.
Anglo American plc is scheduled to release its preliminary full-year financials, which will include results for De Beers, on Feb. 21.
More on Sourcing
The Latest
AuctionsApr 01, 2026
John Jacob Astor IV’s Titanic Pocket Watch Heads to AuctionA Patek Philippe for Tiffany & Co. timepiece owned by the American businessman who died on the Titanic will be offered at Freeman's Chicago.
SurveysApr 01, 2026
Consumers’ Outlook Improves Again in MarchThe Conference Board’s Consumer Confidence Index edged up, with optimism about the present outweighing worries about the future.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
IndependentsApr 01, 2026
Zachary’s Jewelers’ Constance Polamalu to Release Children’s BookThe retailer’s Zach Bear gift comes to life in “Zach Bear and the Window Necklace,” which centers on curiosity, bravery, and helping.
Weekly QuizMar 26, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsApr 01, 2026
AGA Opens 2026 Gemological Scholarship, Research Grant ApplicationsApplications are open for the AGA Gemological Scholarship Program through May 15, and until June 2027 for the Gemological Research Grant.
ColumnistsMar 31, 2026
Q1 Clues That Reveal Where Your Jewelry Store’s Sales Are Heading These customer behavior patterns say a lot about how successful your jewelry store is going to be this year, Emmanuel Raheb writes.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
CollectionsMar 31, 2026
Mejuri Adds Silver to ‘Puzzle’ CollectionMejuri’s popular collection of 18-karat yellow gold vermeil rings debuted in sterling silver alongside new “Puzzle” slider charms.
CollectionsMar 31, 2026
Buddha Mama, Ashley Longshore to Host Pop-Up in DallasThe Miami-based jewelry brand and the NYC-based artist will be in Dallas from April 9-11.
EditorsMar 30, 2026
Tom Moses Looks Back on His Decades at GIA Moses, who will leave the lab in May after nearly 50 years, discusses his start in the business, gemstones that stand out, and what’s next.
TrendsMar 30, 2026
Oscar Heyman Debuts First Spring CatalogThe new catalog, which showcases 35 one-of-a-kind pieces of jewelry, is a compliment to the company’s popular holiday catalog.
SourcingMar 30, 2026
Rio Tinto Hauls Last Load from DiavikProduction has ceased at the Canadian diamond mine, which has yielded more than 150 million carats of rough diamonds in its 23-year run.
MajorsMar 30, 2026
Tanishq Opens First New England LocationThe store opening marks the 10th United States location for the India-based jewelry retailer.
MajorsMar 27, 2026
Saks Global Has Changed Its Mind About Closing These 3 StoresTwo Saks Fifth Avenue locations, one in Florida and one in California, and one Neiman Marcus store are off the chopping block.
IndependentsMar 27, 2026
Jimmy West, Longtime LJG Executive Director, Dies at 72West, who started in the art department at the Leading Jewelers Guild in 1979, is remembered for his patience, kindness, and dedication.
CollectionsMar 27, 2026
Itä’s ‘Yarí Whirl’ Ring Tells Every Side of the StoryIn the “Tesoro” version of the ring, our Piece of the Week, each side of the gold hexagonal nugget has a unique colored gemstone design.
WatchesMar 26, 2026
Q&A: Citizen Watch America President Jeffrey Cohen on Eco-Drive’s 50th AnniversaryCohen discusses the evolution of Citizen’s light-powered technology, the brand’s cross-generational appeal, and tariffs.
IndependentsMar 26, 2026
Peter Smith Pens Book on Human Behavior in Sales“Essentially Human: On Sales and Salespeople" reveals the underlying human traits and behaviors of the most successful sales professionals.
CollectionsMar 26, 2026
Lionheart Celebrates 13 Years of ‘Cassandane’The collection features symbols of love, luck, and light, based on the story of Queen Cassandane and Cyrus the Great of Persia.
Events & AwardsMar 26, 2026
NAJA, Instappraise Introduce New ScholarshipIt’s the third scholarship to be launched as part of the partnership to help appraisers advance their professional credentials.
Events & AwardsMar 26, 2026
JA Still Accepting Entries for 2026 CASE AwardsThe deadline for entries in the jewelry design competition has been extended to April 3.
SourcingMar 25, 2026
Rob Bates Steps Down as JCK News Director After 28 years with JCK, the veteran industry journalist is launching his own publication on Substack called The Jewelry Wire.
GradingMar 25, 2026
New York’s Natural History Museum, Wiley To Build Minerals DatabaseWiley said the project will give scientists worldwide access to the American Museum of Natural’s History renowned mineral collection.
CollectionsMar 25, 2026
Boochier Turns Flower Friendship Bracelets Into Fine JewelryThe “Flower Puff” collection looks to beaded flower friendship bracelets from childhood, turning the silhouette into nostalgic fine jewelry.
Policies & IssuesMar 25, 2026
Community for Ethical Jewelry to Host Bench Jeweler Shortage WebinarSet for April 2, the webinar will discuss how the jewelry industry can address the workforce gap.
IndependentsMar 24, 2026
Lisa Bayer, Illustrator and Beloved Member of the Muse Family, Dies at 64Bayer, founder of Lisa Bayer Designs, is remembered as “a bright light in every room.”
