IMPALA Platinum Holdings, the world’s number two platinum producer, is to buy a 30% stake in Zimbabwe Platinum Mines’ (Zimplats) Ngezi project for R240m. Implats said the company and South Africa’s ABSA Bank were planning to jointly buy a 30% equity stake in Zimplats from Australia’s Delta Gold Limited for R131m. Zimplats is 51% owned by Delta Gold. The company acquired the Zimbabwean platinum operations of Australia’s BHP Ltd in 1999 after BHP closed its troubled Hartley Platinum mine in Zimbabwe. Implats said a feasibility study had shown the Ngezi project to be a 100 000 ounce platinum mine over a 20-year life. The South African Reserve Bank has given approval for the transaction. – Reuters
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