Sylvania Resources and Eastern Platinum have announced plans to pool their assets in two South African mines.

Eastern Platinum's president, Ian Rozier, has issued a statement explaining that the companies have agreed a deal which will see their assets pooled at the Everest North and Mareesberg projects.

According to AFX, the two firms are now reviewing their figures to bring come to a conclusion on how the agreement will operate in practice.

Australian miner Sylvania explained that the deal is designed to make the Everest North operation more efficient and profitable. It is also hoped the agreement will serve to extend the life of the mine.

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