The merger of Aquarius Platinum, Rustenburg Platinum Mines and First Platinum was a step closer to completion yesterday (29th April) after the Competition Tribunal approved the deal.

Under the terms of the proposed agreement, Aquarius would acquire First Platinum's mining rights, properties, and fixed and movable assets at part of its Brakspruit and Spruitfontein sites.

A second phase would then see the company transfer these assets to its pooling and sharing project with Rustenburg at the Marikana mine, located on the western limb of the Bushveld Complex in South Africa.

If the deal goes through without conditions - as recommended by the Competition Commission - the resulting firm would then be jointly controlled by Aquarius and Rustenburg.

The news comes after it was confirmed this week that Aquarius has been given an irrevocable undertaking to vote in favour of its plans to purchase Ridge Mining at court and general meetings.

Zijn Mining Group has given the green light for the company to make an offer for the 30,083,000 shares held by its subsidiary, Gold Mountains International Mining Company.

Aquarius has received approval to purchase 30,083,000 shares in Ridge to date - representing about 32.7 per cent of its standard share capital - and now has until 15th May to publicly cement its intentions.

Sources:

Competition Tribunal approves Aquarius Platinum merger (29/04/09)

(AEAQP) Zijin to Vote in Favour of Aquarius Offer for Ridge (27/04/09)

Hearings next week on platinum merger (24/04/09)

Ÿ Adfero Ltd