Anglo American Platinum and Khumama Platinum Ltd said on Thursday they had agreed to a 50:50 joint mining venture in which Khumama is to be Angloplat’s black economic empowerment partner.
The two firms are to mine the Booysendal platinum project on the eastern limb of the Bushveld Complex.
In a joint statement, the two partners said that under an agreement reached with the Department of Minerals and Energy, Khumama Platinum would be granted the mining rights in respect of the Johannesburg and Sheeprun farms.
Khumama Platinum is chaired by Nomazizi Mtshotshisa and consists of three broad-based empowerment consortia which are led by Mtshotshisa, Paseka Ncholo and Robinson Ramaite.
”The conclusion of the joint venture agreement will be subject to certain conditions including the obtaining of the necessary regulatory, statutory consents and authorisations and board approvals,” the statement read.
Mtshotshisa is the non-executive chairwoman of Telkom, a non-executive director of the Industrial Development Corporation and a director of the Petroleum Oil and Gas Corporation of South Africa (Pty) Ltd.
Ncholo is a director of gold miner Durban Roodepoort Deep. A constitutional law expert, he told Moneyweb earlier this year he had come into gold mining by default. After leaving the public service in 1999, where he had been director-general of the Public Service Department, he joined Ref Holdings. Later, he made a successful bid for East Rand Proprietary Mines.
Ramaite is also a former director-general of the Department of Public Service and Administration and a past president of the SA Students Congress. – Sapa