Platinum major Anglo Platinum announced to the JSE last week that
it had concluded a black economic-empowerment deal with a
consortium led by former Minister of Justice Dr Penuell
Maduna.
The transaction relates to the farm Elandsfontein 440 J.Q, in the
North West, but no value was given in the notice to the
bourse.
In the miner&rsquocrusher spare parts manufacturer;s statement, it said that the “transaction
was cfruit crusher south africaoncluded after an extensive public tender and selection
process”.<types of stone processbr />
The Ngazana Consortium, led by Maduna, includes prominent busi-
nesswomen and a broad historically-disadvantaged-persons investor
base. It holds a 26% unencumbered interest in Eland Platinum Mines.
Eland Platinum Holdings, a pub-lic company, holds 65% of Eland
Mines and plans to list on the JSE in 2006.
Historically-disadvantaged people will control the boards of both
Eland Mines and Eland Platinum Holdings.
In terms of the transaction, Anglo Platinum undertakes to apply for
the conversion of its old-order prospecting rights on the
farm.
Once the necessary authorities have been granted, the miner will
cede the prospecting rights and sell the related surface rights,
that are necessary for the future estab-lishment of mining
infrastructure, to Eland Mines, for an undisclosed cash
consideration.