PERTH (miningweekly.com) - Embattled platinum developer Nkwe Platinum on Wednesday reported that it was hoping to resolve an ownership dispute regarding its platinum group tenements in South Africa, within the next two weeks.

During December last year, Nkwe and its controlling shareholder Genorah Resources initiated discussions with Anglo Platinum, African Rainbow Minerals (ARM) and the Department of Minerals and Energy (DMR) to settle the long-standing dispute as to the ownership of the farms.

Although the matter had initially been settled in 2008, Nkwe and Genorah started the negotiations to further conclude a binding court-approved settlement, which would have brought certainty to the process.

However, these negotiations hit a snag as technical difficulties have arisen between the parties and the objectives of ARM.

Nkwe, which has been on a trading halt since November 9, told shareholders on Wednesday that the interruption of the Christmas and New Year holiday break, as well as the indisposition of senior decision makers within the DMR, have further brought about delays in the negotiations.

“The company is acutely aware of the valid and substantial concerns expressed by shareholders due to the extended period of negotiation, and will ensure that any binding outcome will be announced immediately,” Nkwe said.

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