Anglo Platinum has announced an employee share option that will offer 1.5 per cent of the firm to employees that are yet to participate in any other company incentive scheme.

About 44,000 employees stand to gain from the move which follows transactions involving Anooraq and Mvela Resources which are being finalised.

However, Anglo Platinum does not know when it will have all its old order mining licences converted to new ones.

The process is controversial and has been running for years with the firm expecting to receive full conversion by April next year.

But if it does not satisfy the minerals and energy department it would also make it harder for the company to put forward another empowerment deal.

Francis Petersen, Head of Strategy at Anglo Platinum, said no deals were currently on the table but he said the firm was in discussion with the department, allAfrica.com reports.

Sources:

South Africa: Angloplat Edges Closer to Meeting BEE Goals, 12/02/08
http://allafrica.com/stories/200802120081.html

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