Impala Platinum has announced that it is on the verge of signing a major black economic empowerment (BEE) agreement.

Implats announced in August that it was in talks with BEE group the Royal Bafokeng Nation (RBN) in a deal that would see RBN take a six per cent stake in the platinum miner.

In a statement to the stock exchange on Friday, Implats revealed that the company is currently in the final stages of what it described as a "broad-based black economic empowerment" deal, although the company would give no further details on the matter.

The potential deal with RBN announced earlier in the year would allow Implats to reach the target set by the South African government for BEE groups to own a 15 per cent stake in all mining companies by 2009.

However, it is not clear whether the new announcement from Implats refers to these negotiations or is the result of different interest in the company.

Implants also announced on Friday the appointment of Shadwick Bessit as a new executive director of the company.


Ÿ Adfero Ltd