Investee Companies



Shanduka holds a 50.03% shareholding in Incwala Resources (Proprietary) Limited. Incwala was established in 2004 and holds an 18% interest in Lonmin plc’s two principal operating subsidiaries, Western Platinum Limited and Eastern Platinum Limited and a 26% stake in the Akanani platinum project. London and Johannesburg listed Lonmin, is the third biggest producer of platinum in the world. The principal activities of the company are mining, refining and marketing of Platinum Group Metals (PGM).

The company has three operating segments: PGM Operations, Evaluation and Exploration. PGM operations consist of operational mines and processing facilities which are located in South Africa. Evaluation relates to the Akanani asset, which is located in South Africa and is in the evaluation stage. Exploration relates to the costs of exploration projects, which have the objective of identifying PGM deposits, which can be commercially realised and,  can occur anywhere in the world. The company's operations are all based in South Africa. It runs a vertically integrated operational structure from mine to market.


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