"Amplats Management is pleased to announce that, subject to certain conditions, they have entered into the following agreements with Northam:"
1. The transfer from Amplats to Northam of the mineral rights in respect of 317.2 hectares of the farm Elandsfontein 386KQ adjoining the western limit of Northam's underground development.
2. The facilitation by Amplats of the grant to Northam of a mining lease and a mining authorisation over 460.6 hectares of the farm Amandelbult 383KQ, adjoining the eastern limit of Northam's underground development.
This deal was done on a commercial basis and in the interest of both companies. As a result of this agreement Amplats will hold approximately 20 percent of Northam's issued share capital. By mining the said reserves the life of Northam will be extended and several thousand jobs will be preserved.
Issued by Johan Adler at Group Public Affairs
Tel: (011) 373-6637
Cell: 083 627-3918