JOHANNESBURG (miningweekly.com) – JSE-listed precious metals explorer Platfields said it had reached a settlement with Rustenburg Platinum, which would enable it to resume prospecting activities at the Tigerpoort 426KZ farm, in Limpopo.

In 2008, Anglo American Platinum- (Amplats-) owned Rustenburg Platinum applied to the North Gauteng High Court to review and set aside a Platfields right over 504 ha. It argued that 172 ha overlapped an area where Rustenburg Platinum had already been granted a mining right.

Platfields and Amplats have settled the litigation on the basis that the Department of Mineral Resources (DMR) will execute a prospecting right in favour of Platfields over Tigerpoort, which excludes the competing area and which measures 332 ha in extent.

Platfields said it has submitted new plans to the DMR for execution for the noncompeting area.

“The parties have agreed that as soon as the DMR has executed the prospecting right in favour of Platfields over the noncompeting area, Rustenburg Platinum will withdraw the review application in respect of Tigerpoort and Leeuwkop,” the company said in a statement.

As such, Platfields will be entitled to continue with its prospecting activities.

It will also enable the miner to immediately continue with its prospecting activities at a neighbouring prospect, the Leeuwkop 425KS farm.

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