With reports emerging about ongoing talks between Lonmin and the axis of Aquarius and diversified group Mvelaphanda Resources, one Tier II platinum group metals (PGM) operation has been championed for its potential.

Mvelaphanda holds 66 per cent of Northam, which recently completed significant black economic empowerment (BEE) deals with Anglo Platinum, subsequently increasing its PGM resources to 129 million - the third-highest in the world.

The main reason for this improved figure is said to be the Booysendal mine, which has brought over 100 million PGM ounces to the fore after its inclusion in Northam.

Northam is also an exception among Tier II names as it is the only owner of a smelter outside the three Tier I firms - Anglo Platinum, Lonmin and Impala Platinum - who charge heavy fees for use of their smelters.

In addition, Northam is the deepest mining operation in the world and Booysendal will be mining at shallow depths for 30 years, meaning the future could be shaped around them - a party that Aquarius, which only has 17 million ounces of PGM, does not want to miss.



Source:

Booysendal - platinum belle of the ball (07/09/08)
http://www.mineweb.net/mineweb/view/mineweb/en/page35?oid=61822&sn=Detail