South Africa platinum producer Impala Plati-num has unveiled plans to purchase all of the shares in rival platinum producer Royal Bafokeng Platinum. The latest announcement comes shortly after Impala Platinum bought a 24.5 percent stake in the com-pany for some ZAR 10.6 billion (US$654 million).
“RBPlat is a mid-sized PGM producer with mining and concentrating operations contiguous to Implats’ Impala Rustenburg portfolio on the Western Limb of the Bushveld Igneous Complex in South Africa,” Im-pala Platinum, which also operates under the name of Implats, said in a statement. “Its mineral reserve inventory is notable due to its size and quality, with a mechanised, Merensky-rich orebody, aligned to robust future demand for platinum, nickel and copper.”
Set up in 1966, Impala Platinum is listed on the Johannesburg Stock Exchange (JSE).