ZIMPLATS parent company, Impala Platinum (Implats) has announced that it has acquired an additional 0.08% of the share capital of Royal Bafokeng Platinum (RBPlat). With this acquisition, Implats now owns 56.1% of RBPlat’s shares in issue.
The platinum giant has been gradually increasing its shareholding in RBPlat since the end of 2021. The company’s recent acquisition of the Public Investment Corporation’s 9.2% shareholding in RBPlat is also part of its efforts to own RBPlat.
Interestingly, Northam Platinum had previously expressed interest in acquiring all of RBPlat’s shares. As it stands, Northam Platinum currently holds 35.4% of RBPlat’s shares in issue.
Implats has reportedly been eyeing RBPlat for several years and is said to view the acquisition of the company’s shares as a strategic move to expand its operations and increase its mining portfolio. RBPlat is one of the leading platinum producers in South Africa and owns several mining assets in the country.
The acquisition of RBPlat’s shares by Implats is expected to strengthen the company’s position in the platinum market, especially in South Africa where the majority of the world’s platinum is produced. In addition, it is hoped that the acquisition will lead to greater efficiency and productivity in the companies’ mining operations.
Implats has stated that it will continue to explore opportunities to increase its shareholding in RBPlat and expand its presence in the South African mining sector.