Platinum producer Anglo Platinum (Angloplats) is preparing the details of a possible Black Economic Empowerment (BEE) deal, according to a report.

South African financial newspaper Business Day said that the company is now attempting to find out the government's position on the deal.

It has not set a date for the conclusion of the transaction.

Angloplats chief executive Ralph Havenstein told the paper that the deal would not include refining operations in order to improve the terms of the proposed deal.

He said that smelting and refining both earned much lower margins than mining, as well as having high costs in the form of replacing assets.

The chief executive added that any empowerment deal would likely include share option schemes for current employees, empowerment deals with black groups and women's groups.

Under BEE rules, 15 per cent of the shares of mining companies must be held by black shareholders by 2009, rising to 26 per cent by 2014.

Ÿ Adfero Ltd