Sekoko Platinum Limited has bid successfully for 480,000 shares in Anglo Platinum (Angloplat) previously held by the Limpopo Province of the South African government.

The Limpopo government originally acquired the shares after granting Angloplat mining rights in the province.

The disposal of the shares to Sekoko is part of a continuing government policy to involve 'historically disadvantaged individuals' in mining, particularly in the extraction of platinum group metals (pgms), the most common mined material in the province.

Bids were invited by the government in December 2002 through public tender, and although competition was intense, Sekoko was successful, with the company citing its 'broad based empowerment credentials' as the deciding factor.

Through a combination of organic development and beneficial partnerships with industry, Sekoko says it hopes to become a key player in the pgm industry.

Tim Tebeila, chairman of Sekoko, said its employment model had been developed after noting with concern the extent at which ordinary people, particularly those living in and around the mining areas, were being excluded from mining empowerment transactions.

'Sekoko engaged marginalised local business communities, chiefs and their subjects in and around the areas in which mining activities are undertaken to obtain relevant approvals from the Tribal Authorities to establish Tribal Trusts with direct shareholding in Sekoko,' he explained.

Sekoko has acquired approximately 0.22 per cent of Angloplat, which is currently valued at around R127 million.