Stillwater Mining is in the best position to take advantage of Norilsk Nickel's presence in South Africa, it has been suggested.

According to Stillwater's Chief Executive, Frank McAllister, Stillwater would be the "logical" company to develop any platinum group metal (pgm) opportunities that are uncovered by Norilsk in South Africa.

Speaking to MiningMX at the Denver Gold Forum in Colorado, Mr McAllister explained that Norilsk acquired South African firm LionOre primarily for its nickel assets, rather than any pgm interests it may have.

He continued: "Should they find a pgm project then, logically, it should come to us because Stillwater is the vehicle which would be able to get the best market multiple out of such a project."

However, he went on to explain that "there is no guarantee that Norilsk would offer any pgm project it might find to Stillwater".

Stillwater is keen to gain a foothold in the South African pgm sector and Mr McAllister commented last year that the company was hopeful of making a move into the country as part of its diversification strategy.

Source:

Stillwater lined up for Norilsk PGM finds, 24/09/07
http://www.miningmx.com/special_reports/conf_cover/denver_2007/581280.htm

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