Jonah group and Abalengani investment group will effect a reverse takeover of JSE-listed DNR Capital, to give Jonah group 43 per cent and the Abalengani group 25 per cent.

Following a series of transactions with Abalengani and Jonah group, DNR Capital will take control of Kilken Platinum.

Kilken Platinum owns 70 per cent and is the operator of a joint venture (JV) with rights to process the tailings produced by Anglo Platinum's Amandelbult mine, Reuters reports.

The JV had the right to buy the life-of-mine tailings from Anglo Platinum, process these and sell the concentrate and platinum group metals back to Anglo Platinum.

Following the deal, DNR will have its name changed and Sir Sam Jonah will be appointed Non-Executive Chairperson with Zunaid Moti, the head of Abalengani, taking the position of Non-Executive Deputy Chairperson.

Sir Jonah played a part in the Anglo Gold takeover bid of Ashanti Goldfields in 2004 and stepped down from the Anglo Gold Ashanti board in February and has since joined the boards of other mining groups through Africa.

Source:

Jonah creates new vehicle for SA mining investments, 25/03/08
http://www.miningweekly.co.za/article.php?a_id=129763

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