Mail & Guardian
Mail & Guardian

Impala Platinum

latest news & developments
South Africa is lagging behind in its transformation crusade, given that Standard Bank and Nedbank have less than 1% black ownership and neither have concluded black economic empowerment (BEE) transactions for a decade.
BLACK ECONOMIC EMPOWERMENT BEE

South Africa’s transformation drive under scrutiny as JSE black ownership remains low 

There were replacement transactions at Old Mutual and Absa, with FirstRand, Sanlam and Capitec retaining black ownership. But Standard Bank and Nedbank have less than 1% black…

  • Brian Sokutu
5 min read
Shell’s recent announcement that it is leaving the country is likely to set off mergers and acquisitions (M&A) activity as the oil and gas company sells its refinery and service stations during the divestiture. (photo by Mike Kemp/In Pictures via Getty Images)
ANGLO AMERICAN

Explainer: Understanding mergers and acquisitions

M&A activity in South Africa experienced a sharp decline in 2023 and a rebound in 2024 is only plausible after the elections

  • Anathi Madubela
4 min read
After a lengthy process, Impala Platinum’s takeover of Royal Bafokeng Platinum (RBPlat) was finally completed in July. Photographer: Waldo Swiegers/Bloomberg via Getty Images
FIRSRAND

Corporate news that made headlines in 2023

The M&G takes a look back at the share price crashes, the historic leadership changes and the surprising appointments

  • Sarah Smit
5 min read
The mining industry has the potential to grow if there is more investment in exploration projects. (Michele Spatari/Bloomberg via Getty Images)
IMPALA PLATINUM

Eleven dead in lift malfunction at Impala Platinum mine

Seventy-five workers were injured and transferred to local hospitals for treatment

  • Agence France Presse
1 min read
Price tag: The Impala Platinum acquisition of Royal Bafokeng is regarded as healthy for the company in the medium to long term. Photo: Waldo Swiegers/Getty Images
IMPALA PLATINUM

Although a great acquisition, Royal Bafokeng won’t shield Impala from global headwinds, say experts

Platinum mining companies forecast a deficit in demand for the metal over the next few years

  • Anathi Madubela
7 min read
A taxidermist shows a find with a fossilized imprint at the conclusion of the 2021 excavations at Bromacker between Tambach-Dietharz and Georgenthal. During this year’s excavations at the globally significant fossil site in the Thuringian Forest, researchers have secured a huge amount of finds. (Martin Wichmann/dpa-Zentralbild/dpa/picture alliance via Getty Images)
ANDRIES ROSSOUW

Investing in critical minerals is the only way for a clean energy transition – report

Due to the move to net-zero carbon emissions, demand for these minerals is surging

  • Anathi Madubela
4 min read
Impala Platinum (Implats) has re-entered the bid to buy out Royal Bafokeng Platinum (RBPlat), offering the mining house’s stakeholders R43-billion for the shares it doesn’t already own. (Waldo Swiegers/Bloomberg via Getty Images)
IMPALA PLATINUM

Impala Platinum re-enters Royal Bafokeng Platinum buyout bid

The announcement comes just weeks after competitor Northam inked a deal to acquire up to 33.3% of Royal Bafokeng Platinum

  • Sarah Smit
3 min read
Underground mining operations are particularly vulnerable to the dangers of flooding and water ingress, which can result from heavy rains, groundwater inflow, or even burst dams. (Waldo Swiegers/Bloomberg via Getty Images)
ALBERTINAH KEKANA

Diversified Royal Bafokeng keeps its platinum roots

The investment company has insulated its shareholders against the resource’s price swings while looking towards a more sustainable future

  • Sarah Smit
6 min read
Mineworkers who have been newly recruited to the National Union of Metalworkers of South Africa attend a meeting at Impala Platinum’s shaft 9 in Rustenburg, North West. (Photographs by Magnificent Mndebele)
COMMISSION FOR CONCILIATION MEDIATION AND ARBITRATION

The deadly cost of union membership in North West

The platinum belt is roiling with tension once more after the assassination of Numsa organiser Malibongwe Mdazo

  • Magnificent Mndebele
7 min read
South African mining output decreased by 0.8% in May. Photo: Waldo Swiegers/Bloomberg/Getty Images
ANDRIES ROSSOUW

Platinum records for South African mines

The miners are in a comfortable position as the world creeps towards a lower-carbon future

  • Sarah Smit
6 min read
Bargaining season: Amcu members at the Masizakhele Stadium in Driefontein during the gold sector strike earlier this year. Platinum companies are hoping their negotiations proceed more smoothly. (Oupa Nkosi)
ANGLO AMERICAN PLATINUM

Amcu inks R14 000 deal

The agreement could lay the foundation for a showdown in the platinum sector ahead of further negotiations

  • Thando Maeko
5 min read
Get the picture: Despite criticism, online ‘big boys’ such as Mark Zuckerberg’s (centre) Facebook and Google, pose threats to new media because they put commercial interests above journalistic independence. (Leah Millis/Reuters)
ASSOCIATION OF MINE AND CONSTRUCTION

Attitudes harden over Implats job loss threat

‘The entire business [Impala Platinum] is at risk unless drastic action is taken,’ says an analyst

  • Thulebona Mhlanga
3 min read
(David Harrison/M&G)
ASSOCIATION OF MINE AND CONSTRUCTION

Amcu warns Implats: Gloves will be off should job cut talks fail

Implats will need to consult with trade unions before going ahead with the plan to cut 13 000 jobs in the next two years

  • Tehillah Nieselow
2 min read
(Delwyn Verasamy/M&G)
COSATU

Cosatu, NUM resolve to fight Implats retrenchments

The mining company announced its intention to go ahead with the mass retrenchments in its strategic review last Thursday

  • Sarah Smit
2 min read
Among other things, the company hopes to reduce the operating cost from R25 100 per platinum ounce in 2017 to less than R22 000 per platinum ounce by the 2021 financial year. (Madelene Cronje/M&G)
IMPALA PLATINUM

Implats to cut 13 000 jobs

The miner is scaling down on loss-making operations

  • Khulekani Magubane
2 min read