Impala Platinum (Implats), a platinum group metals (PGMs) miner, has acquired an additional 8.54 million shares in Royal Bafokeng Platinum (RBPlat).
Implats now owns around 44.48% of the RBPlat shares.
Implats has launched an offer to buy all of the shares of RBPlat, although it is now engaged in litigation with Northam Platinum, a rival PGMs miner which was also vying for complete control of RBPlat.
Northam has subsequently withdrawn its offer to acquire all RBPlat shares, but it still owns 35.4% of the company.
It is yet to clarify what it plans to do with its RBPlat stake.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
Implats now owns around 44.48% of the RBPlat shares.
Implats has launched an offer to buy all of the shares of RBPlat, although it is now engaged in litigation with Northam Platinum, a rival PGMs miner which was also vying for complete control of RBPlat.
Northam has subsequently withdrawn its offer to acquire all RBPlat shares, but it still owns 35.4% of the company.
It is yet to clarify what it plans to do with its RBPlat stake.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
