Aquarius Platinum has announced that it has become the latest platinum miner to convert its rights into new order mining rights.

The South African government has confirmed that Aquarius has converted its rights in relation to all its platinum operations, at Kroondal, Marikana and Everest.

Aquarius is the second mining firm to convert its rights after Lonmin announced earlier this month that it had complied with the tough new regulations and had therefore became the first company to be able to convert its rights to the new rules.

Commenting on this latest announcement, minerals and energy minister Buyelwa Sonjica said: "I believe that as more companies within the industry embrace and implement the requirements of the Mineral and Petroleum Resources Development Act, we will see the fruits thereof and our economy will continue to prosper."

She added: "Economic prosperity without social development is a recipe for disaster."

Aquarius' black economic empowerment (BEE) partner, Savannah Consortium, also welcomed the announcement, suggesting that the move demonstrates the ability of Aquarius to meet its BEE targets.

Ÿ Adfero Ltd