Platinum miner Anooraq has announced that it has secured conditional approval for its 'reverse takeover' in conjunction with Pelawan.

Ronald W. Thiessen, president of Anooraq Resources and Tumelo Motsisi, chairman of Pelawan Investments, confirmed that a deal enabling Anooraq to acquire Pelawan's 50 per cent share in the Ga-Phasha pgm project will now go ahead.

The Ga-Phasha pgm project, a joint venture between Pelawan and Angloplat, is located on the Bushveld Complex in South Africa.

Anooraq's move to secure the share was given conditional approval from the Exchange Control department of the South African Reserve Bank (SARB).

SARB approval only arrived after a lengthy application process to the various South African, but the way now seems clear for Anooraq to become the first offshore-listed Black Economic Empowerment company.

South Africa's minister of minerals and energy, Ms Phumzile Mlambo-Ngcuka, welcomed the news, describing it as "a further milestone for meaningful BEE participation within the South African mining sector".