Anglovaal Mining (Avmin) chairman, Rick Mennell, has hinted that African Rainbow Minerals (ARM) could list their nickel and platinum assets under a separate company 'in due course'.

Mr Mennell suggested that ARM, formed through the merger of gold miner Harmony, Avmin and black economic empowerment (BEE) miner ARM, would organise its platinum and nickel interests under one operation ready for a possible floatation, according to Business Day.

The new ARM's platinum interests comprise the Modikwa and Two Rivers projects, while its nickel operations are concentrated at the Nkomati mine.

The Modikwa project is a joint venture with Angloplats, which is expected to produce 162,000 ounces of platinum and 146,000 ounces of palladium per year in its first phase with significant potential for expansion in the future.

Meanwhile, the Two Rivers partnership with Impala Platinum should produce 110,000 ounces of platinum per year and 67,000 ounces of palladium per year from 2006.

Addressing delegates attending the 2004 Investing in African Mining Indaba in Cape Town, Mr Mennell commented: 'We are larger now, but still need to grow. We must acquire other projects while maintaining a controlling BEE shareholder in ARM, which gives us our unique empowerment status in the industry.'