/NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES
TORONTO, Oct. 12 /CNW/ - Platmin Limited ("Platmin" or "the Company"; TSX/AIM: PPN; JSE: PLN) advises that in accordance with its established succession plan, the Company's Chief Executive Officer, Ian Watson, is to retire as an executive and director by the end of 2009. Platmin is evaluating suitable candidates to replace Mr. Watson to ensure a smooth transition for the Company.
Platmin Chairman, Mr Keith Liddell, said, "Ian has been a director and executive of Platmin since 2004 and has guided the company from being an explorer to a producer. On behalf of the board, shareholders and employees I thank him for his hard work and dedication to the company."
Appointment of directors to Boynton
Mr Cobus Bronn, the General Manager of Pilanesberg Platinum Mines Pty Ltd has been appointed as a director of Boynton Investments Pty Ltd, Platmin's South African operating subsidiary. This appointment will facilitate a simplified reporting structure.
Mr. Innocent "Popo" Gumede has been appointed as a director of Boynton. Mr. Gumede has extensive experience in labour and government related matters that will assist with the future development of the business. Mr. Gumede's primary areas of responsibility are employee and community relations and government liaison and facilitation.
Mr. Kwape Mmela, deputy chairman of Platmin and chairman of Boynton said, "the appointment of Popo Gumede as a director of Boynton is intended to improve the dialogue between stakeholders in our various projects and he brings a wealth of facilitation experience to the company. Likewise, the appointment of Cobus Bronn will bring incremental hands-on knowledge and expertise to the Boynton board."
Platmin is an explorer and emerging PGM producer whose four key projects host mineral resources and reserves: Pilanesberg, M'phahlele, Grootboom and Loskop. The Pilanesberg Project is presently in the 'ramp up' phase and is expected to meet the design production rates during 2009. The despatch of PGM concentrates to the custom smelter commenced in April 2009. All of Platmin's projects are located in the Bushveld Complex of South Africa, which is estimated to contain approximately 90% of global platinum mineral resources.
SOURCE PLATMIN LIMITED
For further information: For further information: Keith Liddell, Chairman, +27 12 661 4280; Investec Bank plc (Nominated Adviser), Gerard Kisbey-Green, +44 207 597 5167; Russell & Associates, Nicola Taylor, +27 11 880 3924