The acquisition deal between Lonmin Investments and Southern Platinum has been successful, with all conditions met.

Lonmin first made its offer of CAN$2.66 per share for the Canadian platinum producer on April 14th, which was extended on May 19th to June 10th 2005.

It is hoped the deal will bring a host of benefits to Southern Platinum shareholders, who have been given until June 28th to tender their shares under the offer.

As part of the acquisition, Lonmin will acquire Southern Platinum's Messina platinum mine in South Africa, where production is expected to rise to 75,000 ounces a year.

Lonmin will use the shares for payment in the deal, but has alternative methods of payment if less than 90 per cent of the shares are tendered by the deadline.