So, in compensation for giving up their rights to around 15% of P2, PTM doubles their share of P1 and P3 to 74%. Let's not forget P1 ozs are shallower and easier to mine. Also, the P2 resource is all inferred. P1 has a very good chunk of proven and probable ozs in there. Great deal for PTM.
What does Anglo get out of it? Near as I can figure, they get BEE credits they can apply to Rustenburg, Amandelbuklt, PPR, while the same ore will still run through their smelters. Looks like a political deal for them to keep what is theirs already.