Bavura Holdings, in which Nigerian billionaire Benedict Peters is a major shareholder, would sign an agreement to mine platinum on Zimbabwe's mineral-rich Greak Dyke.
South Africa’s Public Investment Corp. faces a tough choice: back Sibanye Gold’s takeover of Lonmin, and take a hit on its investment, or scupper the deal and risk having to pony up more cash for the platinum miner.
Gold deliveries to central bank unit Fidelity Printers and Refiners, which buys all the country's gold, declined to 6.5 tonnes from 7.3 tonnes during the January-March quarter.
Sibanye Gold reiterated that its increased offer for Lonmin is final, but kept its option open to sweeten the deal for the platinum producer should a rival bid emerge.
A plan to build Zimbabwe’s biggest platinum mine at a cost of about $4 billion is floundering because a military stake in the project has deterred potential backers.
