Implats looks to add mid-tier PGM miner

Implats (JSE:IMP) and Royal Bafokeng Platinum (JSE:RBP) are negotiating a merger, according to a joint statment by the two companies released today.

The companies said due diligence is completed. If the deal goes through, Royal Bafokeng Platinum would be acquired by Impala Platinum Holdings (Implats) and Royal Bafokeng Platinum, which has all its operations in South Africa, would be de-listed.

Royal Bafokeng Platinum was up 20% to 11,430.00 ZAC. Implats was down 1.36% to 20,818.00 ZAC.

During Implats 2021 fiscal year, it produced 3.27 million ounces of 6E, the six platinum-group metal elements.

By Michael McCrae

For Kitco News

Follow michaelmccraemmccrae@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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