Anglo Platinum and Aquarius announced on 13 July 2005 that they had reached agreement to mine contiguous properties on their respective Rustenburg and Marikana properties. The agreement, similar in nature to the Kroondal pool and share agreement, provides for the parties to pool their assets, while retaining ownership thereof, and to share the proceeds equally.
Anglo Platinum and Aquarius are pleased to announce that all conditions precedent including statutory and regulatory consents and approvals have been fulfilled and the boards of both Anglo Platinum and Aquarius Platinum have approved the P&SA2.
Economic benefits and liabilities will be shared from the effective commencement date of the P&SA2 which remains 22 September 2005. Construction work to expand the existing Marikana concentrator will commence shortly.
The Marikana P&SA offers significant synergies to both Anglo Platinum and Aquarius, increasing the output of platinum group metals in a capital and cost efficient manner.
For further information, please contact:
Trevor Raymond
Anglo Platinum
+27(0) 11 373-6462
+27 (0) 82 654 8467
Gert Ackerman
Aquarius Platinum (South Africa)(Pty) Ltd
+27 11 202-8629
+27 82 498 7749
Nick Bias
Aquarius Platinum Ltd
+ 44 7887 920 530