Ridge Mining announced that it has conditionally agreed to issue shares to a subsidiary of Zijin Mining Group Company Limited in consideration for the payment of £8.2 million (US$15.3 million). The deal is subject, to shareholders passing the appropriate resolutions at an Extraordinary General Meeting of the Company to be held on 30 October 2006.

Zijin is a Chinese resource company listed on the Hong Kong Stock Exchange with a market capitalisation of approximately US$5.2bn and is one of China's leading mining groups principally engaged in the exploration, mining, production, refining and sale of gold and other mineral resources in China. During 2005, Zijin produced approximately 491,000 ounces of gold of which some 369,000 ounces were produced from the large open pit Zijinshan gold mine in Fujian province.

Ridge Mining plc is an AIM traded company focussing on developing its prospective Platinum Group Metal (PGM) projects on the Bushveld Complex of South Africa.