Indigenous miner Mvelaphanda Resources (Mvela) says it is planning to make a series of purchases using as it seeks to consolidate its position it he platinum industry.

In an interview with Reuters, the firm's commercial manager James Wellstead said Mvela was now in a position to begin investing its resources in new business after accruing more than R200 million.

"Obviously it depends on whether we are successful in our bids for some of these companies, but we certainly expect to close a few this year," he said.

"We are certainly looking at buying controlling positions and becoming operating miners."

Mr Wellstead also added that recent discussions with Incwala, which has secured a 23 per cent stake in the back-owned firm, could lead to a potential merger down the line, although he stressed that it would be a matter for further development.

Mvela announced headline earnings of 622 cents per share for the six months leading up to December in its results this month, a sharp increase on the same period the previous year.


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