Source Pravda.Ru

New Platinum Mine In South Africa

Africa's fourth-largest gold producer Ashanti Goldfields Co will develop a platinum mine in South Africa in a bid to diversify its output. Ashanti mines for gold in four African countries and it will work with a black-owned South African company to develop a concession given up by Anglo American Platinum Corp., the world's biggest platinum miner. Lonmin Plc, which owns 32 percent of Ashanti, already mines for platinum in South Africa. ``We've always had a strategic objective to diversify into platinum,'' said Trevor Schultz, Ashanti's Chief Operating Officer. ``Several times, we've come close to doing something with our biggest shareholder Lonmin.'' Ashanti applied in May for the right to explore for platinum in South Africa. Since the beginning of 1996, gold has tumbled by almost a quarter while platinum prices have leapt 36 percent. South Africa's Department of Minerals and Energy has awarded platinum-mining rights in the country's northeast as part of government efforts to increase black participation in the economy and make up for 350 years of white rule, which ended in 1994. ©

&to=http://www.ashantigold.com' target=_blank>Ashanti Goldfields

&to=http://www.mbendi.co.za/orgs/cb41.htm' target=_blank>Anglo American Platinum

Comments
Two Russian spies - Chepiga and Mishkin - create new bogus story for the West
Two Russian spies - Chepiga and Mishkin - create new bogus story for the West
Bill Clinton's Oval Office disgrace destroyed Yugoslavia
Two Russian spies - Chepiga and Mishkin - create new bogus story for the West
Russia builds her first-ever turbojet engine for civil aviation
Russia builds her first-ever turbojet engine for civil aviation
Is Putin guilty of the Kerch school massacre?
Russia to use all of her might to defend Belarus if need be
Two Russian spies - Chepiga and Mishkin - create new bogus story for the West
Two Russian spies - Chepiga and Mishkin - create new bogus story for the West
Russia to use all of her might to defend Belarus if need be
Two Russian spies - Chepiga and Mishkin - create new bogus story for the West
Two Russian spies - Chepiga and Mishkin - create new bogus story for the West
Edward Snowden does not feel safe in Russia
Edward Snowden does not feel safe in Russia
Russia to use all of her might to defend Belarus if need be
Is Putin guilty of the Kerch school massacre?
AIDS came to USSR as deadly disease of Western decay
Putin ready to discuss INF Treaty issues with John Bolton
Russian military men were paid before Russia reunited with Crimea
Is Putin guilty of the Kerch school massacre?