glencore/xstrata/anglo, page-32

Hi Ophir,
I think Balilow gets his information from the same source that I do. Last I heard, everything is tracking towards a JV in June (which probably means July!). Of course, no one can predict whether some event from left field or inadequate offers from potential partners might not stumble these plans.
Anglo do want to JV, but the problem here is with their terms. Offering 1.1B rand is IMO just not sufficient to start operations even with the use of their processing facilities. Anglo want to invest 11B rand in expanding PGM operations so hopefully they will be able to divert a bit more towards the JV.