Anglo Platinum has announced plans to sell a 15 per cent share in its Union mine and concentrator complex.

If the deal goes ahead, Black Economic Empowerment (BEE) group the Bakgatla-Ba-Kgafela Traditional Community will purchase a stake in the company's Rustenburg Platinum Mines Union section and interests in the prospecting rights of two other properties.

The global platinum giant claims that it is at an "advanced stage of negotiating a BEE transaction" with the community, which holds mineral rights in the region of South Africa where the mine is located.

Worth around R420 million (£30.2 million), the BEE agreement would see the company cover around two or three per cent of the credits towards the BEE target of 26 per cent by 2014.

As part of the deal, the Bakgatla will receive sizeable interests in prospecting rights to Magazynskraal and Rooderand and the company has stated its intention to empower its most profitable operations.

The Bakgatla-Ba-Kgafela Traditional Community has organised a meeting to discuss the proposals later this month.

Anglo Platinum recently appointed Fred Phaswana as successor to Barry Davidson, the current chairman of the company. Mr Phaswana will take up his new position at the end of the year when Mr Davidson retires after 33 years with the company.

Ÿ Adfero Ltd