Black empowerment organisation Mvelaphanda Resources (Mvela) is keeping its focus on expanding its platinum operations, the company's Chairman has said.

While Lazarus Zim admitted that Mvela would be looking to diversify into other mining sectors in the future, he insisted that it is currently concentrating on growing its platinum business.

The firm currently has a 21.9 per cent stake in Northam Platinum but Mr Zim has already signalled his intent to see that grow into a controlling interest in the near future.

Speaking to MiningMX, Mr Zim explained that he is confident the deal will go through and believes that the R1.1 billion he invested into Mvela through his Afripalm Resources organisation will help "contribute to the transaction".

Mvela is hoping to consolidate its platinum operations before looking into other mining markets, with the Northam deal now seen as critical to the company's progress in the platinum sector.

Source:

South Africa's 'usual suspects', 22/08/07
http://www.miningmx.com/mybk07/452253.htm

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