Mvelaphanda Resources' plans to purchase platinum mining junior Northam Platinum have been given the backing of South Africa's Competition Commission.

The commission has recommended that the transaction be carried out without any conditions, meaning the agreement should be able to progress without too many hurdles, Mining Weekly reports.

Under the terms of the planned deal, Mvelaphanda's subsidiaries Mvela Platinum and Mvela Equity will take control of Northam Platinum. The platinum junior would then take over Khumama, which is a wholly-owned subsidiary of Mvelaphanda Resources.

Through the deal, Northam would then buy Micawber, giving it the rights to the Booysendal project and enabling it to develop a platinum mine at the site.

Source:

Competition Commission recommends Mvela-Northam deal be approved, 11/12/07
http://www.miningweekly.co.za/article.php?a_id=123414

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