Implats wants to buy Royal Bafokeng Platinum

accreditation
0:00
play article
Subscribers can listen to this article
Impala Platinum Two Rivers Mine in Limpopo
Impala Platinum Two Rivers Mine in Limpopo
Supplied

Implats and Royal Bafokeng Platinum (RBPlat) are in talks, which could see Implats buying out investors in the smaller company.

Should the proposal be successful, RBPlat would delist from the JSE, as the companies become a single platinum group metals entity.

RBPlat has a market capitalisation of R27.4 billion, while Impala, which has operations in Canada, Zimbabwe and South Africa, is valued at R172 billion.

"The parties have completed a reciprocal due diligence exercise and are progressing a proposed transaction implementation agreement," the miners said in a joint statement. The companies however warned that the proposal does not constitute an offer or a firm intention to make an offer.

RBPlat was born out of a joint venture between Anglo American Platinum and Royal Bafokeng Holdings (RBH).

RBH, which is owned by the Royal Bafokeng Nation Development Trust, still holds 40% of the company. Some 60% of its shares are held by the market.

RBPlat owns two platinum mines - Bafokeng Rasimone and Styldrift - as well as the Bafokeng Rasimone Platinum Mine Concentrator complex and the Maseve concentrator plant.

RBPLat's share price rocketed by almost 20% in opening trade on Wednesday, while Implats weakened by 2%.



We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For only R75 per month, you have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.
Subscribe to News24
Rand - Dollar
16.27
-1.9%
Rand - Pound
21.71
-0.0%
Rand - Euro
18.42
+0.1%
Rand - Aus dollar
11.59
+0.0%
Rand - Yen
0.14
+0.2%
Gold
1,792.60
0.0%
Silver
23.13
0.0%
Palladium
1,751.49
0.0%
Platinum
955.50
0.0%
Brent Crude
72.72
-11.6%
Top 40
62,411
-2.6%
All Share
68,615
-2.8%
Resource 10
64,074
-2.5%
Industrial 25
92,909
-1.3%
Financial 15
12,995
-6.8%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot