Anglo Platinum BEE Transaction With The Ngazana Consortium: Press Release
Anglo Platinum Limited
Issuer Long Name : Anglo Platinum Limited
Instrument Alpha Code/Ticker Symbol : AMS
ISIN : ZAE000013181
PRESS RELEASE: ANGLO PLATINUM BEE TRANSACTION WITH THE NGAZANA CONSORTIUM
Anglo Platinum and the Ngazana Consortium are pleased to announce that they have
reached agreement and concluded a BEE transaction relating to the farm
Elandsfontein 440 J.Q. The transaction was concluded after an extensive public
tender and selection process.
The Ngazana Consortium is led by Dr Penuell Maduna and includes prominent
businesswomen and a broad historically disadvantaged persons ("HDP"s") investor
base ("the Consortium"). The Consortium holds a 26% unencumbered interest in
Eland Platinum Mines (Pty) Limited ("Eland Mines"). Eland Platinum Holdings
Limited, a public company, holds 65% of Eland Mines and plans to list on the JSE
Limited in 2006. HDP"s will control the boards of both Eland Mines and Eland
Platinum Holdings Limited.
In terms of the transaction, Anglo Platinum undertakes to apply for the
conversion of its old order prospecting right on the farm Elandsfontein 440 J.Q.
and once the necessary authorities are granted, cede the prospecting right and
sell related surface rights, necessary for the future establishment of mining
infrastructure, to Eland Mines for an undisclosed cash consideration. Anglo
Platinum has further undertaken to provide the Consortium with available
geological information and, if Anglo Platinum so elects, may undertake
downstream processing of concentrate generated by the Consortium"s mining
activities.
For further information please contact
Trevor Raymond
+27 (0)11 373 6462
+27 (0) 82 6548467
8 December 2005
Sponsor
Merrill Lynch SA
Date: 08/12/2005 03:00:04 PM Produced by the JSE SENS Department
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