WESTERN Areas and Canadian mining group Placer Dome have firmed up a $235-million joint venture agreement. Western Areas is hoping that the deal will allow it to dilute its risk from South Deep, its deep level project and to explore mining projects throughout the world. Placer Dome will chair the joint-venture board and have the casting vote. Western Area shareholders will meet in March to vote on Placer Dome’s acquisition of 50% of Western Areas. Meanwhile Western Area’s stock price dropped 20c on Tuesday to end at R18,55 on the JSE.