Anooraq Says Still In Talks With Angloplat Over Assets Buy
January 28 2009 - 10:37AM
Dow Jones News
Anooraq Resources Corp. (ANO) Wednesday said it continues to
discuss the acquisition of assets from Anglo Platinum Ltd. (AMS.JO)
and associated financing.
Anooraq, incorporated in British Columbia but focused on South
Africa, said it remains engaged in talks with the
Johannesburg-based platinum producer over a 51% interest in the
Lebowa platinum mine and additional 1% controlling interests in the
equally-owned Ga-Phasa, Boikgantsho and Kwanda joint venture
projects.
"The parties' discussions are progressing well and they remain
committed to closing the transaction by April 30," Anooraq
said.
Angloplat announced plans to sell control of Lebowa for 3.6
billion rand ($363.9 million) and the other stakes in September
2007 as part of a wider move to comply with black economic
empowerment laws in South Africa aimed at redressing the company's
apartheid past.
Company web site: www.anooraqresources.co.za
-By Robb M. Stewart, Dow Jones Newswires; +27 11 783 7848;
robb.stewart@dowjones.com
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