Anglo Platinum is currently adopting a strategy of pulling out of projects rather than exploring new ones - unlike many of its rivals - but this is proving to be useful for smaller operators, it has been claimed today (September 3rd).

The firm's stance can largely be explained by South Africa's mining laws, which state that 26 per cent of the local industry must be owned by empowerment groups, while the enshrined principle of 'use it or lose it' is also playing its part.

An example of the benefits to smaller companies is Anglo Platinum's sale of the Elandsfontein project to the Ngazana consortium, with the newly-formed Eland Platinum now able to convert the site to a mine more rapidly.

Anglo Platinum has also pulled out of the Booysendal project - which had been on the backburner for a lengthy period - thus allowing Northam Platinum to begin the construction of a mine as early as 2010.



Source:
Angloplat discards are good as platinum to minors (03/09/08)
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