Impala Proposes Acquisition of Mvelaphanda and Northam
Northam operates integrated platinum group metals mining, processing and smelting operations on the western limb of the Bushveld Complex. A key minerals asset involved in the transaction is Northam’s yet-to-be-developed Booysendal deposit, which has a resource of 103 million oz of platinum group metals.
The transactions require the approval of Mvela and Northam shareholders, as well as approval by South Africa’s competition authorities and its Department of Minerals and Energy. Closure of the transaction is expected to take place during the first quarter of 2009.