Junior platinum miner Platmin has not ruled out selling off parts of its project at Pilanesburg, it has been reported.

The Lonmin Platinum subsidiary recently announced plans to proceed with development of the project with a view to ramping up production to 586,000 oz of platinum group metals (pgms) per year by 2012 and in so doing become a larger player in the sector.

However, when pressed by a journalist in Johannesburg last week whether the firm was planning to sell, Ian Watson, Platmin CEO, said that "everything has its price".

He did, however, say there are no plans in place for such a deal at the moment and that the project was not being developed with this in mind.

He told Mining Weekly: "We are planning to be a mid-tier platinum producer, and at the moment we want to develop a mine."

News of Mr Watson's comments come as Platmin last month confirmed it has hired Standard Bank of Australia to act in an advisory capacity in the firm's bid to raise $200 million to fund the development.

Source:

New platinum-miner aims for 250 000 oz in 2009, 14/12/07
http://www.miningweekly.co.za/article.php?a_id=122546

Platmin raises 80.75 mln cad via offering of 9.5 mln shares at 8.5 cad a share, 06/12/07
http://www.forbes.com/afxnewslimited/feeds/afx/2007/12/06/afx4411916.html

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