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South Africa’s Implats Seals $500 Million Black Investor Deal
Impala Platinum Holdings Ltd. announced a 9 billion rand ($500 million) deal that will result in Black investors holding a 13% interest in the South African mining company and the Bafokeng business it acquired last year. Implats, as the Johannesburg-based company is known, gained control of Royal Bafokeng Platinum Ltd. almost a year ago, following an 18-month takeover battle with Northam Platinum Ltd. Before the takeover battle, the biggest shareholder in RBPlat was the Bafokeng nation, a community of people in South Africa’s North West Province. As part of the approval conditions for that acquisition, Implats ... (full story)