Northam Platinum Makes Unsolicited Approach for Rival RBPlat

A logo sits on a wall at the entrance of the Northam Platinum Ltd. Booysendal platinum mine outside the town of Lydenburg in Mpumalanga, South Africa, on Tuesday, Jan. 23, 2018. Booysendal will use a system developed by an Austrian company that builds ski lifts to transport the ore up a 30 degree incline out of a valley for processing, instead of the traditional conveyer used throughout South Africa or the more expensive option of trucking. Photographer: Waldo Swiegers/Bloomberg , Bloomberg

Felix Njini, Bloomberg News

Dec 9, 2021

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(Bloomberg) --

Northam Platinum Holdings Ltd. has made an unsolicited approach to buy some or all of Royal Bafokeng Platinum Ltd., in an escalating battle for the South African platinum miner.

“The Northam unsolicited approach does not contain any details as regards the timing or the commercial and financial terms of a possible offer,” RBPlat, as Royal Bafokeng is known, said in a statement on Thursday.

Northam spokesman Leon Van Schalkwyk didn’t respond to calls seeking comment.

The approach comes after Impala Platinum Holdings Ltd. last month revived its pursuit of RBPlat, seeking control of the smaller producer that is key to prolonging the life of its own deep-level operations. Earlier in November, Northam had swooped to buy out RBPlat’s biggest shareholder, thwarting Implats’ initial approach.

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