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Xstrata Alloys Joint Media Release: Xstrata Alloys and Kagiso Trust Investment form a Black Economic Empowerment partnership in the Mototolo Joint Venture.

Publication: M2 Presswire
Publication Date: 28-FEB-06 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
M2 PRESSWIRE-28 February 2006-Xstrata plc: Xstrata Alloys Joint Media Release: Xstrata Alloys and Kagiso Trust Investment form a Black Economic Empowerment partnership in the Mototolo Joint Venture(C)1994-2006 M2 COMMUNICATIONS LTD

RDATE:28022006

Xstrata Alloys ("Xstrata") and Kagiso Trust Investments ("Kagiso") announce an agreement to form a black economic empowerment partnership in respect of Xstrata's 50% interest in the Mototolo Joint Venture ("the Mototolo JV" or "the JV") with Anglo Platinum. The Mototolo JV was established in October 2005 and involves the development of a platinum group metals (PGM) mine and concentrator on the Eastern Limb of the Bushveld Complex in Mpumalanga, South Africa.

Construction of the Mototolo project began in the second half of 2005, with total capital expenditure estimated at ZAR1.35 billion (approximately US$210 million). The project is expected to produce approximately 132,000 ounces of platinum and 82,000 ounces of palladium in concentrate...

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