Australian platinum group Nkwe has announced a new agreement with Black Economic Empowerment (BEE) group, Genorah Resources.

The deal will see the platinum explorer and development company purchase prospecting rights to two platinum operations in South Africa.

Under the terms of the conditional agreement, Nkwe will acquire interests in two projects on the Eastern Limb of the Bushveld operations in South Africa in a move that will see around 63 million shares being distributed to Genorah.

Nkwe believes that the De Kom and Gratouw farms are currently under-explored, but is confident of reaching mineralisation of over 30 million in situ ounces.

Speaking to Mining Weekly, Nkwe's executive director Tony Weber stated that drilling would begin immediately once approval for the project had been received from Nkwe shareholders and regulatory authorities.


Ÿ Adfero Ltd