"Xstrata will need to decide very soon whether they make another takeover bid for Lonmin or go JV with NKP. Highly unlikely that the Sth African Government will allow Xstrata to takeover Lonmin and then go JV with NKP.Too much concentration of platinum power."
Disagree with you here MACLEOD.
"Diversified mining giant Xstrata has signed a binding heads of agreement with minerals resources company Genorah Resources, and its platinum mining subsidiary, Nkwe Platinum, granting Xstrata the option to acquire a maximum of 50% interest in five platinum-group metal (PGM) properties on the eastern limb of the Bushveld Complex."
Xstrata Alloys CFO Mark Moffett added that this represented an exciting opportunity given the miner's stated objective of becoming a significant player in the PGMs market.
Moffett commented that this agreement would be COMPLEMENTARY (my caps.) to the bid Xstrata had made for Lonmin earlier on Wednesday. He explained that the proposed acquisition of Lonmin would allow it access to producing operations in the short term, while its partnership with Nkwe and Genorah was an "exciting growth opportunity".
