Johannesburg, South Africa — MININGREVIEW.COM — 03 November 2010 – Nedbank Capital and Anglo Platinum “’ the world’s biggest platinum producer “’ have concluded a R1.3 billion transaction for the re-financing of Afripalm Resources (Pty) Limited and its subsidiaries.
Revealing this in a statement here, Nedbank explained that Nedbank Capital had acted as advisor and funder to the deal, and that Anglo Platinum had acted as partial funder and guarantor.
Afripalm Resources “’ established in 2006 to explore, develop and acquire interests in mining and energy-related operations in Africa “’ commenced trading by acquiring a 21% stake in JSE-listed Mvelaphanda Resources Limited. Citing tremendous future growth prospects in Mvelaphanda Resources subsidiary Northam Platinum “’ especially the development of the Booysendal project “’ Afripalm and Nedbank Capital extended their investment and funding respectively for a further three years.
Afripalm Resources chairman Lazarus Zim expressed his sincere gratitude and appreciation to both funding parties.