Incwala Resources (Pty) Limited (Incwala)
We continue to hold a 24% stake in Incwala, our Black Economic Empowerment partner. Incwala is an 18% shareholder in our South African operating subsidiaries Western Platinum Limited and Eastern Platinum Limited and, through this investment, has an 18% interest in our entire value chain from our mines to our processing facilities. Incwala also purchased a 26% stake in our Akanani project in July 2007.
Furuya Metals Co. Limited (Furuya)
In 2001, we acquired a 7% stake in Furuya, a Japanese specialist fabricator of PGMs, giving us a unique insight into leading-edge developments in the uses and applications of PGMs. Furuya listed on Jasdaq in 2006. As at 30 September 2007, our investment was valued at US$25 million.
Platmin Limited (Platmin)
We hold a minority stake in Platmin, a Canadian-domiciled exploration junior with PGM projects in South Africa which listed on the UK Alternative Investment Market and Toronto Stock Exchange last year. Platmin, through its subsidiary Boynton, is our joint venture partner at Loskop.