Platinum miner Lonmin will list on the New York Stock Exchange (NYSE), according to reports in the Daily Telegraph.

The move is being touted as a potential solution to warding off unwanted approaches from suitors, as the firm seeks to steady itself following takeover discussions with an unnamed bidder last month.

Lonmin is understood to see the move as a means for generating more capital, which would in turn help fortify the firm to fend off potential approaches.

With mining firms on the US exchange typically trading at a higher price, it is reported that the company's board believe the move would be a shrewd one.

Now the platinum miner is said to be examining its compliance needs for a US listing, studying the demands of the new Sarbanes-Oxley regulations.

The listing is expected to take place within the next year.

Last month Lonmin issued a statement to the stock exchange that it had been in preliminary discussions about a potential offer, but sources within the firm insist the 'deal' was little more than regular executive meetings.


Ÿ Adfero Ltd