Anglo Platinum has named September as the intended date of completion for its ongoing empowerment programme, according to an unnamed source cited in a report in Mining MX.

The projected date follows a statement from the company's empowerment partner Mvelaphanda Resources' chairman Lazarus Zim testifying to the progress made in finalising the details of the empowerment scheme.

Mvela will be the largest shareholder in the Northam Platinum facet of the deal for which the framework is reportedly already in place.

He said: "Things are powering ahead. It's known we'll be key in the Northam deal but we currently have minority shareholders [in Northam] to think about."

Meanwhile, the report also opines that the most likely outcome of the deal will be the creation of two empowerment vehicles, that the deals will be at asset level and that they will both employ Anglo Platinum's "so-called hybrid methodology".

News of developents in the deal follows the announcement that Anglo Platinum Executive Director Norman Mbazima has been appointed as Non-Executive Director of Northam.

Source: Anglo Pt pencils in spring BEE deadline
09/05/07
http://www.miningmx.com/platinum/842428.htm

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