Perth, Australia — MININGREVIEW.COM — 15 July 2008 – Impala Platinum Limited – the world’s second-largest platinum producer – has entered into a strategic alliance with Australian-listed exploration company Impact Minerals Limited to explore for and develop deposits containing nickel and platinum group (PGM) elements in southern Africa.
A statement issued here revealed that the alliance was designed to allow Impala to expand platinum output and to afford Impact the opportunity to gain exposure in Southern Africa.
The statement added that the agreement would take immediate effect, and would operate for a minimum period of two years. Impala Platinum would fund project generation work by Impact by up to US$400 000 (R3.2 million) per year, and in return would have the first right to earn equity in any projects identified.
The Impala Platinum-Impact Minerals Nickel”PGM alliance will concentrate on various southern African countries, including Botswana, Madagascar, Malawi, Mozambique, Namibia and Zimbabwe.
The company is in the process of establishing an office in the Johannesburg”Pretoria area, which will be the operating centre for all of Impact’s activities in Africa. The work will be managed by Mr John Blaine who was recently appointed as chief operating officer for Impact’s exploration and business development in Africa.