Eastplats could lose mining rights as shareholders relinquish BEE interest

Dual-listed Eastern Platinum (Eastplats) could be facing regulatory challenges with the Department of Mineral Resources, following the relinquishment of interests by its black economic empowerment (BEE) shareholders.   The company on Tuesday said Gubevu Consortium Investment Holdings’ and Lion’s Head Platinum’s shareholders have relinquished their interests in varying amounts to Serina Services and Ingwenya Incorporated. Gubevu is Eastplats’ BEE partner in Barplats Investment, while Lion’s Head is a BEE-compliant corporation in the company’s Mareesburg project.