Alchemy Law is proud to have advised Impala Platinum Holdings Limited (Implats) in respect of their recently announced R9 billion B-BBEE transaction. The deal follows on Implats’ successful acquisition of Royal Bafokeng Platinum.
The landmark transaction aims to increase black participation in the Platinum Group Metals sector through a 13% B-BBEE ownership structure at asset and operations level. The equity ownership will take place through an employee share ownership trust, a community share ownership trust and a strategic empowerment consortium. These three components will be facilitated through vendor funding provided by two of Implats’ subsidiaries, Impala and Impala Bafokeng Resources.
The deal reaffirms Implats’ commitment to sustainable economic empowerment and a more sustainable Rustenburg platinum asset base and is a positive development in the platinum sector where players have been under pressure over the last few quarters.
“This notable transaction signifies Implats’ commitment to a more inclusive mining future that will benefit a broad cross-section of stakeholders and contribute towards economic prosperity in the Bushveld Igneous region,” says senior Alchemy Law partner Wildu du Plessis.
For more information, read Impala Platinum’s full press release: https://www.implats.co.za/pdf/press-releases/2024/media-statement-20052024.pdf