https://www.engineeringnews.co.za

Impala Platinum’s Canada acquisition to close this week

10th December 2019

By: Mariaan Webb

Creamer Media Contract Publishing Editor

     

Font size: - +

All the required regulatory approvals for South African miner Impala Platinum’s (Implats’) acquisition of Canadian miner North American Palladium (NAP) have been received.

The C$758-million, or R11-billion, transaction remained on track to close on December 13, NAP said in a statement on Monday.

The deal adds the Lac des Iles mine, in Ontario, Canada, to Implats’ South African portfolio. CEO Nico Muller previously said that the transaction would expedite Implats’ transition to becoming a multinational producer.

The regulatory approvals of the NAP deal come as Implats is facing a difficult week in South Africa, where platinum and gold mining companies are halting mines, owing to a shortage of electricity.

The country’s State-owned supplier, Eskom, on Monday implemented a record level of power cuts of 6 000 MW to stabilise the grid.

According to news agency Bloomberg, Implats did not start the 4:00 underground shift on Tuesday. The company has also reportedly stopped milling ore and shut its smelter.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Rio-Carb
Rio-Carb

Rio Carb is an OEM (Original Equipment Manufacturer) of R-C700 Chromium Carbide (CrC) alloy clad wear plates and pipes used for heavy materials...

VISIT SHOWROOM 
Industrial Nozzles & Systems (Pty) Ltd
Industrial Nozzles & Systems (Pty) Ltd

Industrial Nozzles & Systems (Pty) Ltd (Est. 2000) exclusive representative in Southern Africa for LECHLER GmbH (Est. 1879) - Europe's leading...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.062 0.952s - 140pq - 2rq
Subscribe Now