Anglo American has been granted new order mining rights by the South African Department of Minerals and Energy.

The rights relate to the conversion of all the mineral rights in Anglo American's platinum businesses as well as coal, ferrous metals and base metals.

The applications were associated with Anglo Platinum's 50:50 joint ventures with Royal Bafokeng Resources and the African Rainbow Minerals consortium.

Ms Buyelwa Sonjica, Minister of Minerals and Energy, said: "The granting of conversions to subsidiaries of South Africa's largest mining company, Anglo American, is a mark of progress for the country's transformation.

"It has also resulted in the creation of two HDSA controlled platinum companies, as well as HDSA participation in Anglo's coal business. I am happy to be making this announcement today," she added.

Cynthia Carroll, Chief Executive Officer of Anglo American, was also delighted with the news and described it as a "significant achievement".

"This is good news for Anglo American and for South Africa and I look forward to ongoing strong and cooperative relationships with the South African government and our partners as Anglo American continues to grow its businesses and contribute to the country's economic prosperity," she said.

Source:

Mining Rights Conversion, 29/04/08
http://www.angloamerican.co.uk/article/?afw_source_key=AC9C37D6-C183-4C1B-A967-0D6372B7A549&xsl_menu_parent=/