Speculation is growing that platinum miner Lonmin could be the subject of a takeover bid.

The firm has recently completed its strategy to move into line with the terms of the Black Economic Empowerment (BEE) legislation - installing black South African investors as minority shareholders in the firm and simultaneously cutting the investment ties Impala Platinum has with the firm.

As a result, a number of analysts and industry observers say that barriers to a potential takeover of the firm have been removed - leaving the way clear for a company to mount a possible bid.

Ian Farmer, Lonmin's executive director of business development and marketing, told Dow Jones Newswires: "This transaction servers a relationship with Impala that has been uncomfortable for Lonmin for some time."

"It liberates considerable strategies that couldn't have been considered before," he added.

Lonmin says it is currently seeking new investments, but the removal of Implats as a 27 per cent shareholder in the firm means that the firm - estimated to be worth around £1.35 billion - might prove an attractive proposition itself.

Lonmin new chief executive, Brad Mills, has voiced his plans for an acquisition strategy, insisting the firm would "look externally for opportunities that will create new sources of earnings and cash flow".

Potential targets for purchase are said to include Russian aluminium business Sual Group and Australian mid-cap diversified miner WMC Resources.