Fin24 reports that Impala Platinum has concluded a R9 billion broad-based black economic empowerment (B-BBEE) transaction at both its Impala Rustenburg and Impala Bafokeng assets.

The transaction will result in 13% B-BBEE ownership at both Impala Platinum, which owns the Impala Rustenburg and Impala Refineries assets, and Impala Bafokeng through its wholly owned subsidiary, Impala Bafokeng Resources. Equity ownership in Impala and Impala Bafokeng Resources will be via an employee share ownership trust, a community share ownership trust and a strategic empowerment consortium, with ownership of 4%, 4% and 5%, respectively. The transaction forms part of the merger approval conditions imposed on Impala prior to its hard-won acquisition of Royal Bafokeng Platinum which was finalised in September last year after an 18-month-long tussle with competing bidder Northam Platinum. Implats had committed to renew and promote a greater spread of ownership in the merged business. CEO Nico Muller said the transaction reaffirmed Impala’s commitment to meaningful and sustainable economic empowerment across its operations and increased broad-based ownership in the Platinum Group Metals (PGM) sector.

• Read the full original of the report in the above regard by Lisa Steyn at Fin24
• Read too, Impala's new R9bn empowerment deal, at TimesLIVE

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