S.Africa's Platfields plans October JSE listing

CAPE TOWN, Aug 14 (Reuters) - South African miner Platfields hopes to raise 200 million rand ($25.65 million) for exploration and near-surface mining when it lists in Johannesburg this October, the company said on Thursday.

Platfields, which is involved in platinum group metals exploration, is also exploring a near-surface gold project in South Africa's northeastern Mpumalanga province, Chief Executive Bongani Mbindwane told Reuters.

Founded in 2002, Platfields has been exploring the eastern limb of South Africa's platinum-rich Bushveld Complex.

"The planned JSE listing is intended to raise additional capital of 200 million rand to fund further exploration and to begin development of near-surface, cash-generative mining as quickly as possible," Mbindwane said via email.

South Africa is the world's biggest platinum producer and with precious metals, including gold, seen bullish in the long term, Platfields is eager to cash in on the commodities boom.

Platfields would use its existing capital of some 100 million rand to advance three exploration projects. The Berg platinum group metals (PGM) initiative in the Bushveld Complex is the most advanced, Mbindwane said.

Platfields would also seek joint ventures, when it made business sense to do so. Junior miners are battling to raise funds for projects made viable by the commodities boom, and mining executives were increasingly looking at consolidation. (Reporting by Wendell Roelf, editing by Will Waterman)