The new black economic empowerment (BEE) mining group and South Africa's latest entrant to the platinum mining industry - Incwala Resources - could be set to transform the industry.

The group's first chair and mining industry heavyweight, Brian Gilbertson, says that the prospects for Incwala are strong, but believes the group can also have a wider impact.

In the course of the next decade Mr Gilbertson believes that the mining industry will produce a wealth of new empowerment transactions, potentially breaking the R100 billion barrier.

He told I-Net-Bridge that he believed Incwala could be at the forefront of this drive.

"If we get it right, Incwala will become the mining flagship for millions of historically disadvantaged South Africans," he commented.

Deputy chairperson Zanele Mavuso Mbatho says the BEE group will seek to acquire other assets as part of a wider aim to "become a diversified champion for BEE in the South African mining sector".

She said that the group's 18 per cent stake ($490 million) in Lonplats, which is set to produce more than one million ounces of platinum by 2008, would help deliver strong cash flow, enabling the company to diversify its interests.

Eventually Incwala bosses say they will seek a listing on the JSE Securities Exchange.