It has been claimed that platinum miner Anglo Platinum is preparing to execute a major black economic empowerment (BEE) deal in the near future.

Mvelaphanda Resources (Mvela) spokesman, James Wellsted, has suggested that Anglo Platinum could be on the verge of a complex deal involving Mvela, Afripalm and Northam Platinum, that would significantly boost its BEE credentials.

Speaking to Business Report, Mr Wellsted explained that Mvela is aiming to take Anglo Platinum's 22.5 per cent stake in Northam Platinum and he is hopeful that an announcement on the matter will be made before the end of the third quarter.

Anglo Platinum needs to bring in more BEE partners by 2009 to meet the target of being 15 per cent owned by BEE investors and a deal involving Mvela, Afripalm and Northam Platinum could help the mining giant to surpass that target.

Anglo Platinum remained tight-lipped on the issue, with a spokesperson telling Business Report: "We will indeed make an announcement at the end. We cannot reveal any more details."

Sources:
Angloplat might be forging big BEE deal
22/05/07
http://www.busrep.co.za/index.php?fArticleId=3843087

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