JOHANNESBURG (miningweekly.com) – Canadian junior Anooraq on Tuesday stated that discussions with platinum giant Anglo Platinum (Angloplat) regarding the purchase of a 51% interest in South Africa’s Lebowa platinum mine, was progressing well, and was expected to be concluded shortly.

Anooraq was also in discussions with Angloplat to acquire an additional 1% controlling interest in each of the Ga-Phasha, Boikgantsho and Kwanda joint-venture projects.

The two parties, along with Anooraq’s biggest shareholder, Pelawan Investments, have now agreed to extend the date for fulfillment of the suspensive conditions until the end of June.

Additionally, Anooraq has renewed its mandate with Standard Chartered Bank (SCB) to provide a portion of the financing required for implementation of the proposed transaction. The SCB facility being contemplated was a senior debt-term facility in an amount of R750-million.

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