Ridge Mining is considering a secondary listing of its shares later in 2008 in a year where it expects to produce its first platinum-group metals.

Already listed on Aim, Ridge Mining is considering listing on the Johannesburg Stock Exchange (JSE) or the Toronto Stock Exchange.

Oliver Baring, chairman of Ridge Mining, said the firm was giving "active consideration" to the possibility of a secondary listing.

"As Ridge has now progressed to the production phase where earnings from Blue Ridge are within sight it may now be a suitable time to reconsider a secondary listing," he said in a statement.

Ridge Mining is in the process of building the Blue Ridge platinum mine in the Bushveld Complex and is on schedule to commission the project by the end of the year, Mining Weekly reports.

New mining projects have caused controversy in South Africa as they require power from Eskom while already existing project are being restricted but Ridge Mining plans to install standby generators before the Blue Ridge project opens.

Once full production is reached, the Blue Ridge project expects to produce 75,000 oz of platinum every year.

Source:

Platinum exploration company Ridge mulls secondary Joburg listing, 28/03/08
http://www.miningweekly.co.za/article.php?a_id=129460

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