The British group Lonmin, the world's third leading platinum producer, said Wednesday it had launched a friendly takeover bid worth 441 million dollars (344 million euros) for its South African rival AfriOre.
The deal, already approved by AfriOre management, needs approval from regulatory authorities and should be completed by the end of January, Lonmin said in a statement.
AfriOre holds a 74 percent stake in the Akanani field in the Bushveld region of northwest South Africa, which has reserves of 33.7 million ounces of platinum group metals.
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