Anglo Platinum has finally received permission to convert its mining rights, it has been confirmed.

The company's investors had been concerned about the situation after seeing the majority of its major platinum-producing rivals being granted their new order rights.

However, the world's largest platinum producer announced in its interim results for the six months to the end of June that the move received official approval last week.

"Anglo Platinum received letters of conversion for its mining rights which were granted by the Department of Mineral Resources (DMR) on 21st July 2010," said the company.

"Execution of these rights has commenced with three executed to date."

Anglo was asked to resubmit its social and labour plans after the DMR revealed earlier this month that it had given "unconditional conversion letters" for two mines but "conditional letters" for the rest.

The news arrives after South African Minister of Mineral Resources Susan Shabangu claimed recently that mining companies working in the country should always have an empowerment partner.

Anglo does not have one at present as it has instead transferred a number of platinum projects to black economic empowerment firms in deals with Northam Platinum, Anooraq Resources and Royal Bafokeng Platinum.

Source:

AngloPlat finally converts its mining rights (26/07/10)

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