Harmony Gold Mining and ARMgold announced yesterday that they plan to list a new platinum producer next year as they intend to concentrate on bullion.

ARMplatinum will group the platinum interests of both companies together, Harmony marketing director Ferdi Dippenaar told Reuters.

'I would say we are 12 to 15 months away until it's listed on the JSE (Johannesburg Stock Exchange', he said.

The announcement follows Harmony's news that it made a loss of R748 million during the three months to June, thanks to a large impairment charge and local currency strength.

Mr Dippenaar said the new firm would consider adding to the parent companies' existing holdings 'old, mature platinum assets, the type of thing Harmony started out with in the gold industry.'

Chief executive of Harmony Bernard Swanepoel said there were viable opportunities for third generation platinum mines in South Africa.