MajorsJan 09, 2026
Kendra Scott Taps Activewear Exec as CEO Chris Blakeslee has experience at Athleta and Alo Yoga. Kendra Scott will remain on board as executive chair and chief visionary officer.
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
SurveysJan 09, 2026
U.S. Holiday Retail Sales Up 4%, Visa, Mastercard SayThe credit card companies’ surveys examined where consumers shopped, what they bought, and what they valued this holiday season.
AuctionsJan 09, 2026
Christie’s Names New Global Managing Director for LuxuryKimberly Miller has been promoted to the role.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
CollectionsJan 09, 2026
Piece of the Week: Lionheart’s ‘Serenity’ Opal CharmThe “Serenity” charm set with 13 opals is a modern amulet offering protection, guidance, and intention, the brand said.
Weekly QuizJan 08, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJan 08, 2026
Pandora’s New ‘Bridgerton’ Jewels Celebrate Bees, Bows, and Blooms“Bridgerton” actresses Hannah Dodd and Claudia Jessie star in the brand’s “Rules to Love By” campaign.
Events & AwardsJan 08, 2026
Ana Khouri To Receive 2026 Gem Award for High Jewelry ExcellenceFounded by jeweler and sculptor Ana Khouri, the brand is “expanding the boundaries of what high jewelry can be.”
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
TrendsJan 08, 2026
Stuller’s Color of the Year Is a Stark Contrast to Pantone’s WhiteThe jewelry manufacturer and supplier is going with a fiery shade it says symbolizes power and transformation.
CollectionsJan 08, 2026
Gracie Abrams To Front New Chanel Jewelry CampaignThe singer-songwriter will make her debut as the French luxury brand’s new ambassador in a campaign for its “Coco Crush” jewelry line.
MajorsJan 08, 2026
Diamond Council of America Names New Board DirectorsThe nonprofit’s new president and CEO, Annie Doresca, also began her role this month.
ColumnistsJan 07, 2026
Peter Smith: Physical Retail—The Beginning or the End?As the shopping mall model evolves and online retail grows, Smith shares his predictions for the future of physical stores.
Events & AwardsJan 07, 2026
Melee Adds 13 New Designers to NYC ShowThe trade show is slated for Jan. 31-Feb. 2 at The Lighthouse in New York City's Chelsea neighborhood.
TrendsJan 07, 2026
Amanda’s Style File: Go for GarnetJanuary’s birthstone comes in a rainbow of colors, from the traditional red to orange, purple, and green.
CrimeJan 06, 2026
2 Jewelers Arrested After TraxNYC Diamond District BrawlFootage of a fight breaking out in the NYC Diamond District was viewed millions of times on Instagram and Facebook.
MajorsJan 06, 2026
Rio Grande Says These Are the Top Personalization Tools for 2026The supplier has a curated list of must-have tools for jewelers doing in-house custom work this year.
MajorsJan 06, 2026
Zales Tests Out A New LookThe Signet Jewelers-owned store, which turned 100 last year, calls its new concept stores “The Edit.”
MajorsJan 06, 2026
LeachGarner Appoints New Director of SalesLinda Coutu is rejoining the precious metals provider as its director of sales.
TrendsJan 05, 2026
Amanda’s Style File: New Year’s EditionSparkle with festive diamond jewelry as we celebrate the beginning of 2026.
IndependentsJan 05, 2026
Jeweler Ben Nighthorse Campbell Dies at 92The master jeweler, Olympian, former senator, and Korean War veteran founded the brand Nighthorse Jewelry.
TrendsJan 05, 2026
Pinterest 2026 Trend Report: Brooches, Bold Gold, Cool BlueIn its annual report, Pinterest noted an increase in searches for brooches, heirloom jewelry, and ‘80s luxury.
MajorsJan 02, 2026
Marc Metrick Out as CEO of Saks Global Executive Chairman Richard Baker will take over the role as rumors swirl that a bankruptcy filing is imminent for the troubled retailer.
Events & AwardsJan 02, 2026
Jan Mohr, Couture’s ‘North Star,’ Dies at 71Mohr had just retired in June after more than two decades as Couture’s retailer liaison.
SourcingJan 02, 2026
IDCA Elects New President, Board of DirectorsShekhar Shah of Real Gems Inc. will serve as president of the Indian Diamond & Colorstone Association in 2026.
CollectionsJan 02, 2026
Lalaounis’ 2026 Good Luck Charm Speaks to ResilienceThis year’s good luck charm features the mythical horse Pegasus, and is our first Piece of the Week of the new year.
EditorsDec 31, 2025
The Top 5 Stories of 2025Articles about crime, engagement rings, and a necklace worn in the World Series generated the most interest among readers.
MajorsDec 30, 2025
Becka Johnson Kibby to Lead Edge Retail AcademyAs part of the leadership transition, Sherry Smith will take on the role of vice president of coaching strategy and development.
