The Johannesburg-based platinum group metals producer raised its stake in RBPlat to 55.46% after South Africa's Public Investment Corp. sold its remaining interest, it said in a statement on Wednesday. The transaction ends a protracted struggle for control between Impala and rival Northam Platinum (NPHJ.J), which holds about 35% of RBPlat and nearly foiled Impala's Nov. 2021 bid. Impala has also extended the closing date for its offer of 150 rand in cash and shares to remaining RBPlat shareholders to June 28. Impala had long wanted control of RBPlat, which has mechanised and shallower mines adjacent to its own ageing, costly and deep-level shafts at the Rustenburg mining complex in South Africa's North West province. Impala's control of RBPlat assets would help secure more than 42,000 jobs at the Rustenburg mines, Muller said.

Source: The North Africa Journal May 31, 2023 09:23 UTC