Australian platinum miner Nkwe Platinum has said it expects talks with black economic empowerment (BEE) groups to have concluded by the end of the first quarter this year.

The discussions will result in a decision on prospecting rights at the firm's De Wildt, Rooderand and Ruighoek projects in South Africa.

It is expected the discussions will allow the company to mine platinum in South Africa within the BEE framework that is set out in the South African Mining Charter.

The company has appointed the South African Tony Weber as chief executive officer in an attempt to conclude the empowerment deal and to help focus the company's strategic development on South African operations.

Mr Weber will be responsible for the day to day running of the South African mines.

The company is currently awaiting the issue of a new prospecting right at the De Wildt mine, before it completes a bankable feasibility study and resource improvement.

However, the moves could well be overshadowed if reports out earlier this week prove to be correct.

The South African government was reportedly said to be considering overhauling its plans for Black Economic Empowerment (BEE), rolling back much of the regulatory changes that it has introduced in the last decade.

Reports in the Times suggested that deputy president Phumzile Mlambo-Ngcuka, also the former minerals and energy minister with direct involvement in the mining sector, is planning a major change to existing BEE rules.

BEE was designed to enfranchise the indigenous people said to have been excluded from the emerging economic wealth of the country, with the aggrandisement of the mineral wealth and natural resources in the country – including platinum – remaining a high-profile and sensitive issue.


Ÿ Adfero Ltd