Aquarius Platinum has announced details of its plans to list on South Africa's Johannesburg Stock Exchange (JSE).

The firm issued a statement to shareholders advising them that the board was planning to list all of the issued shares on the JSE.

An application has now been made to the JSE to list its shares, with the firm awaiting approval from the South African Reserve Bank (SARB).

In its statement, Aquarius drew attention to changes regarding the listing of foreign companies announced in the Medium Term Budget Policy Statement (MTBPS) made by South African finance minister Trevor Manuel.

In his comments made on Tuesday, the minister discussed the liberalisation of exchange controls, reiterating the Government's position: "Next month, we will have our first foreign listing in the form of Aquarius Platinum, an Australian mining concern.

"To support these aims further, we are eliminating all restrictions on investment by South Africans in these companies.”

Stuart Murray, CEO of Aquarius, hailed the minister's comments today, and looked forward to next month's listing.

"The minister's speech was upbeat on South Africa's economic progress and prospects, which is encouraging for foreign companies such as Aquarius.

"The minister's and the SARB governor's decision to eliminate restrictions of investment by South Africans in Aquarius is welcomed and vindicates the board's decision to press ahead with a listing.”

Changes to the rules governing the JSE and the participation of foreign firms were first unveiled by the South African government back in February.