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SA’s platinum sector on the move
David McKay
Posted: Sun, 19 Dec 2004
[miningmx.com] -- KEEP your eyes peeled for an overhaul of South Africa’s platinum sector from 2005. British company Ridge Mining has plans to follow Aquarius Platinum and take a secondary inward listing on the JSE. It will provide welcome choice, because there’s a real possibility of shrinkage elsewhere.


The highly illiquid Messina Platinum faces either partial or a complete takeover, possibly by Impala Platinum, which may have already seized on the former’s financing problems. If Messina can’t find the capital to complete its 160 000oz/year venture, Impala might buy shares as a funding alternative.

Meanwhile, Lonmin’s strategy to diversify itself away from platinum – if successful – will remove its pure play status. The strategy, unveiled earlier this year, also puts the firm in play. In fact, CEO Brad Mills says that a value-adding takeover must be contemplated.

And after nearly two years of steady buying, AngloPlat is now 74,8% owned by parent firm Anglo American. It’s widely expected a buyout of minority shareholders is in the pipeline.

Overlaying these developments there’s Noril’sk Nickel, the Russian mining firm that produces platinum group metals as a by-product of nickel. It’s clearly assessing its options in SA’s mining industry and has most recently been linked with a potential offer for Lonmin.