SouthernEra has announced the final completion of its restructuring plans for the company's new platinum and diamond businesses - with Southern Platinum and SouthernEra Diamonds beginning trading.

Under the terms of the new plan SouthernEra will continue its diamond business through the current public company which has been renamed SouthernEra Diamonds while its platinum and gold businesses are now run by the new firm Southern Platinum.

The platinum shares will trade on the Toronto Stock Exchange, with SouthernEra saying it is now confident it has met all the necessary criteria.

Yesterday marked the first day for the two new companies, bringing an end to the lengthy period of reorganisation.

SouthernEra president and CEO Patrick Evans welcomed the move, adding that the reorganisation "represents a significant milestone in our company's history".

"We are pleased with the overwhelming support we have received from our shareholders and anticipate that the two separate companies are well placed to enjoy broad market support as two of the strongest growth companies in their sectors," he said.

SouthernEra won strong backing for its proposed restructuring plans last month in the final stages of shareholder approval.