South Africa's Shanduka may acquire majoroty stake in PGMs operator.

By bne IntelliNews October 4, 2011
Lonmin, the world's third largest primary platinum producer, has entered into a conditional share subscription agreement with South Africa's Shanduka Group, according to which Shanduka will have the opportunity of carry out a feasibility review for operating and developing Lonmins Limpopo Division, according to a note posted on the website of Lonmin. Upon successful outcome of the feasibility study, Shanduka will raise the necessary funds and will be entitled to subscribe for 50% plus one share in the issued share capital of Lonmin unit Messina Platinum Mines Limited. Lonmin believes that this transaction will contribute to it meeting the Mining Charter Phase 2 equity target of 26% by 2015, as well as furthering Shandukas strategy of operating mining assets in chosen commodities.

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