... Impala completes Platexco acquisition.(Brief Article)
Mining Journal, December, 2000
This Tuesday, Impala Platinum Holdings Ltd of South Africa finally completed its acquisition of Toronto-listed Platexco Inc., for C$191 million in cash (C$9.50/share). The acquisition, first launched in mid-year (MJ, June 9, p.441), allows Impala to proceed with the development of an operation centred on the farm Winnaarshoek on the Eastern Limb of the Bushveld Igneous Complex. The planned mine will produce about 200,000 oz/y of platinum, over a life of at least 30 years, for a capital investment of over R1 billion. The new production is a key element in Impala's plans to utilise the full 2 Moz/y (Pt) capacity of its Enhanced Precious Metals Refinery.
Closure of the takeover was contingent upon the approval by the Minister of Minerals and Energy of the specific...
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