New South African pgm producer Eland Platinum Holdings is set to list on the Johannesburg Stock Exchange (JSE) by the end of this month.

The mining firm has scheduled March 29th as the first day of its listing, as it seeks to develop its holding in the Elandsfontein Platinum Project.

Eland estimates that R1 billion in capital is needed to hit full production within the next three years, with the JSE listing and additional sources of cashflow helping to realise that goal.

The listing, which will see the release of 25 million shares, is expected to raise R500 million, while an earlier private placement has already generated around R180 million.

Now the new entrant to the pgm market is planning to ramp up operations at the Elandsfontein property and is aiming to produce an annual haul of 280,000oz of pgms in concentrate.

Eland is a key player in the changing mining landscape as a result of Black Economic Empowerment (BEE), with one of its major holders including the black-owned Ngazana Consortium.


Ÿ Adfero Ltd