Impala Platinum (Implats) has revealed that it is once again looking to increase its Black Economic Empowerment (BEE) programme.

The world's second largest platinum miner has revealed that it is in talks with BEE group the Royal Bafokeng Nation (RBN) about the possibility of that party taking a six per cent stake in Implats.

RBN already has a 1.5 per cent stake in the company, but Implats is keen to increase that amount so that it can fulfil its BEE requirements under the South African government's empowerment credentials.

South Africa has imposed a demand that BEE groups hold at least a 15 per cent stake in the country's mining companies by 2009, and the potential deal with RBN will see Implats meet that criteria.

Commenting on the negotiations, Implats chief executive Keith Rumble confirmed: "They are the obvious strategic partner for this business and discussions are currently being conducted regarding their possible participation as a strategic partner."

Last week, Implats announced a five per cent increase in headline platinum production for the year to the end of June, with headline platinum production up to a record 1.815 million ounces.


Ÿ Adfero Ltd