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Last Updated: Tuesday, 4 September 2007, 16:55 GMT 17:55 UK
Platinum firm's black rights deal
Black miners in South Africa
Black ownership of top firms is growing in South Africa
South African mining group Anglo Platinum is to sell mines to two black-led firms in a deal worth about 35 billion rand ($4.85bn; 2.4bn).

The move will see the two companies - Anooraq Resources and Mvela Resources - controlling two of Angloplat's biggest platinum mines in the country.

It is also planning to distribute 1.5% of shares to its mostly black workers.

Angloplat has been under pressure to increase its involvement in black economic empowerment (BEE) schemes.

The firm, which is majority-owned by Anglo American, accounts for about 40% of global platinum production.

"This is a truly historic BEE transaction which will fundamentally transform the South African platinum mining industry," said Anglo American chief executive Cynthia Carroll.

Anooraq, which will buy a 51% stake in Lebowa Platinum and 1% of the Ga-Phasha Project, was the first black economic empowerment company with a primary listing outside South Africa.

It is almost 65% owned and controlled by a firm that is in turn owned by 15 BEE groups, including women's investment concerns.

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