10 September, 2008. Anglo American has acquired a 12 % stake in the Australian mining firm Magma Metals Limited. Magma Metals had previously announced “spectacular” results August 11, 2008, in its exploratory drilling activities in the Current Lake intrusive complex north of Thunder Bay, Ontario, Canada.

Magma reports a 2.5 kilometer long strike zone with mineralization varying from 5.6 g/ton to 26.5 g/ton of Pt + Pd from one drill hole. The drilling revealed concentrations as high as several percent of Cu and Ni as well. Magma Metals reports that it has been undergoing a 24,000 meter drilling program to map the Thunder Bay claims.