JSE listed Impala Platinum has unveiled a R9bn empowerment deal after its acquisition of Impala Bafokeng Resources Proprietary (IBR), previously known as Royal Bafokeng Platinum, a year ago.
Impala, which operates mines in Rustenburg, Zimbabwe and Canada, said the deal will result in 13% B-BBEE ownership at Impala and IBR.
The deal comprises a new 4% employee share ownership trust for host communities, a strategic broad-based empowerment consortium Bokamoso, led by Siyanda Resources Proprietary, its empowerment partner, which will hold a 5% shareholding in Impala and IBR.
Commenting on the transaction, CEO Nico Muller said it reaffirms the group’s commitment to meaningful and sustainable economic empowerment in its operations and increases broad-based ownership in the PGM sector.
“The transaction demonstrates the group’s confidence in our business, the PGM sector and South Africa. While the transaction was initially conceived as part of our commitments related to acquiring Impala Bafokeng, the intention was focused on enabling broad-based participation in the resulting entity — a stronger, longer-life and more sustainable Rustenburg asset base — and meaningful empowerment ownership in the group’s South African mining, smelting and refining assets.”
TimesLIVE
Impala's new R9bn empowerment deal
Image: Thapelo Morebudi
JSE listed Impala Platinum has unveiled a R9bn empowerment deal after its acquisition of Impala Bafokeng Resources Proprietary (IBR), previously known as Royal Bafokeng Platinum, a year ago.
Impala, which operates mines in Rustenburg, Zimbabwe and Canada, said the deal will result in 13% B-BBEE ownership at Impala and IBR.
The deal comprises a new 4% employee share ownership trust for host communities, a strategic broad-based empowerment consortium Bokamoso, led by Siyanda Resources Proprietary, its empowerment partner, which will hold a 5% shareholding in Impala and IBR.
Commenting on the transaction, CEO Nico Muller said it reaffirms the group’s commitment to meaningful and sustainable economic empowerment in its operations and increases broad-based ownership in the PGM sector.
“The transaction demonstrates the group’s confidence in our business, the PGM sector and South Africa. While the transaction was initially conceived as part of our commitments related to acquiring Impala Bafokeng, the intention was focused on enabling broad-based participation in the resulting entity — a stronger, longer-life and more sustainable Rustenburg asset base — and meaningful empowerment ownership in the group’s South African mining, smelting and refining assets.”
TimesLIVE
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