Mining giant Impala Platinum secures more shares in Royal Bafokeng Platinum

Impala Platinum has concluded the agreement to purchase 475, 000 shares from Royal Bafokeng Platinum as media reports suggest.

BusinessTech Africa has learnt that Implats has also assured the business sector and its stakeholders that they will do everything in their power to create more than 40 000 jobs.

The platinum miner referred to its offer to RBPlat shareholders of issued ordinary shares in Royal Bafokeng Platinum as set out in Implats’ offer circular throughout the year.

The shares constitute approximately 0.16% of the RBPlat Shares in issue for a consideration per RBPlat Share equal to the offer consideration as described in the Offer Circular.

Mining Review reports that after the trades are implemented, Implats will hold RBPlat Shares comprising an aggregate of approximately 38.10% of the RBPlat Shares in issue.

“Implats confirms that these acquisitions have already been disclosed to the Takeover Regulation Panel (TRP) as required under Chapter 5 of the Companies Regulations, 2011,” reports the mining website.

“The board of directors of Implats accepts responsibility for the information contained in this announcement and, to the best of the Implats board’s knowledge and belief, that information is true and this announcement does not omit anything likely to affect the importance of the information included.”

On the same topic, IOL has it that the platinum group metals (PGM) producer, announced its general offer, in cash and shares, to acquire a majority shareholding in RBPlat back in November last year.

According to the group, the transaction will deliver significant and tangible socio-economic benefits for the Rustenburg region, its communities, and South Africa.

“This includes extended employment security for more than 40 000 people and sustained economic support for the more than 450 000 people who benefit from Impala Rustenburg’s and RBPlat’s mining activities and social contributions in the greater-Rustenburg region,” it said.

Main Image: Impala Platinum Mine/Biznews