Mvelaphanda Resources has held talks with Aquarius Platinum over a sale or joint venture for a section of the Booysendal platinum project.

According to Pine Pienaar, Chief Executive of Mvelaphanda Platinum, the discussions relate to an area around the southern point of Booysendal which is adjacent to Aquarius.

The talks will see "if there is sensible joint cooperation" between the two firms, he told Reuters.

Mvelaphanda Platinum is in the process of purchasing the Booysendal project from Anglo Platinum and it currently owns 50 per cent of the 100 million ounce project.

But the talks with Aquarius Platinum could see the sale of the southern section of the project to create funding for the development of the remainder of the project.

Mr Pienaar said that while selling part of the project to Aquarius Platinum was a possibility, Mvelaphanda Resources may decide to keep the whole project.

Anglo Platinum has agreed to provide the project with electricity during the construction phase but there is still no agreement with Eskom about future power supplies.

This could impact on Mvelaphanda Resources' target of achieving production of 325,000 oz of platinum group metals by 2013.



Source:

Mvela held talks with Aquarius on Booysendal, 19/05/08
http://africa.reuters.com/country/ZA/news/usnBAN949491.html

Mvela says held talks with Aquarius on Booysendal, 19/05/08
http://www.miningweekly.com/article.php?a_id=133633