On October 16, 2017, Impala Platinum Holdings Ltd. (Implats) entered into an agreement to purchase a 15% interest in the Waterberg PGE Project for $30 million, subject to approval of the Reserve Bank. It will also have the option to increase its stake to 50.01% through additional purchases and earn-in arrangements totaling $166 million following the completion of a Definitive Feasibility Study, and have a right of first refusal to smelt and refine Waterberg concentrate.
The agreement is with Platinum Group Metals Ltd., the Japan Oil, Gas and Metals National Corporation (JOGMEC), Mnombo Wethu Consultants (Pty) Ltd., and Waterberg JV Resources Proprietary Ltd.
Fasken advised Implats with a team made up of Tanneke Heersche and Aaron Atkinson (Toronto) and Blaize Vance, Samantha van Breda, Susan Braybrooke and Ashen Jugoo (Johannesburg).
