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<TABLE border=0 cellSpacing=0 cellPadding=0 width=452><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published March 31, 2010
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Temasek invests US$100m in S African mining firm
(SINGAPORE) Singapore investment company, Temasek Holdings, agreed to buy US$100 million of convertible debt in Platmin Ltd, the South Africa-based platinum miner controlled by Brian Gilbertson's Pallinghurst Resources Ltd.
Temasek, through its Ridgewood Investments (Mauritius) Pte unit, agreed to buy the convertible debenture from Platmin, the mining firm said in a statement distributed through Marketwire. Platmin also plans a US$250 million global equity offering, it said.
Temasek, which manages about $172 billion of investments, is 'fairly bullish' about mining holdings and is seeking opportunities in Africa, Mongolia and the rest of the world, Nagi Hamiyeh, managing director of investment, said last week.
Temasek and China Investment Corp, China's sovereign wealth fund, are both seeking commodity investments as Asian demand is increasing.
'We believe that the Asian emerging markets will be the engine of global economic and secular commodity demand growth, with demand being increasingly met by supply from new promising mining regions such as Africa,' Mr Hamiyeh said in the statement from Platmin.
'Through our investment in Platmin, we will gain direct exposure to the fast-growing automotive sectors in China and India. We are pleased to participate in the funding of Platmin as it grows into an important industry producer.'
Temasek can convert all the debt into shares at US$1.215 apiece before the debenture matures on Dec 31, Platmin, with headquarters in Centurion, said.
Temasek will receive about 82.3 million shares, representing about 15.6 per cent of Platmin's equity, when the securities are converted, according to the statement. -- Bloomberg
</TD></TR></TBODY></TABLE>
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Temasek invests US$100m in S African mining firm
(SINGAPORE) Singapore investment company, Temasek Holdings, agreed to buy US$100 million of convertible debt in Platmin Ltd, the South Africa-based platinum miner controlled by Brian Gilbertson's Pallinghurst Resources Ltd.
Temasek, through its Ridgewood Investments (Mauritius) Pte unit, agreed to buy the convertible debenture from Platmin, the mining firm said in a statement distributed through Marketwire. Platmin also plans a US$250 million global equity offering, it said.
Temasek, which manages about $172 billion of investments, is 'fairly bullish' about mining holdings and is seeking opportunities in Africa, Mongolia and the rest of the world, Nagi Hamiyeh, managing director of investment, said last week.
Temasek and China Investment Corp, China's sovereign wealth fund, are both seeking commodity investments as Asian demand is increasing.
'We believe that the Asian emerging markets will be the engine of global economic and secular commodity demand growth, with demand being increasingly met by supply from new promising mining regions such as Africa,' Mr Hamiyeh said in the statement from Platmin.
'Through our investment in Platmin, we will gain direct exposure to the fast-growing automotive sectors in China and India. We are pleased to participate in the funding of Platmin as it grows into an important industry producer.'
Temasek can convert all the debt into shares at US$1.215 apiece before the debenture matures on Dec 31, Platmin, with headquarters in Centurion, said.
Temasek will receive about 82.3 million shares, representing about 15.6 per cent of Platmin's equity, when the securities are converted, according to the statement. -- Bloomberg
</TD></TR></TBODY></TABLE>
