JOHANNESBURG -(Dow Jones)- Anooraq Resources Corp. (AMEX:ANO) (ANO) Wednesday said it has secured as much as 1.7 billion rand ($222.6 million) in debt financing from Standard Chartered PLC (LSE:STAN) (STAN.LN) for its acquisition of a 51% stake in South Africa's Lebowa Platinum Mines.

The British Columbia-based company in mid-April signed a definitive agreement to buy the majority interest in Lebowa, an operating platinum group metals mine, from Anglo Platinum Ltd. (Johannesburg:AMS) (AMS.JO) for ZAR3.6 billion, which it will fund through a combination of debt and equity.

Anooraq is exploring and developing platinum group metals properties in South Africa's Bushveld Complex and has a stated objective of becoming a significant PGM producer in the country.

Company Web site: www.anooraqresources.com

-By Robb M. Stewart, Dow Jones Newswires; +27 11 783 7848; robb.stewart@ dowjones.com

    (END) Dow Jones Newswires   05-21-08 0630   Copyright (c) 2008 Dow Jones & Company, Inc.