It has been reported that the transaction between Anglo Platinum and Northam over Mvelaphanda Resources (Mvela) is finally set to go ahead.

The move has been four years in the making, but will now be concluded in early 2007, according to Mvela deputy chairman, Bernard van Rooyen.

Under the terms of the agreement, Mvela will transfer its 50 per cent stake in the Booysendal joint venture with Anglo Platinum to Northam.

Mvela will receive shares in exchange, meaning that it will increase its stake in Northam to 34 per cent.

Mr van Rooyen told MiningMX: "We are moving to a point where we will resolve it."


Ÿ Adfero Ltd