Implats unveils new $500M black empowerment deal

seekingalpha05-20

Impala Platinum (OTCQX:IMPUY) (OTCQX:IMPUF) announced Monday a 9B South African rand (~$500M) deal that will result in black investors holding a 13% interest in the company and the Bafokeng business ...

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Under the black economic empowerment deal, local communities and employees will each hold a 4% stake, while a consortium led by Siyanda Resources will take a 5% holding, Implats   said. South Africa introduced a mining charter in 2004 to distribute the benefits from mining more widely among the country's citizens to make up for racial discrimination during apartheid. \"The transaction demonstrates the group's confidence in our business, the PGM sector and South Africa,\" Implats   CEO Nico Muller said.","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"IMPUY":"Impala Platinum Holdings Ltd.","IMPUF":"Impala Platinum Holdings Ltd.","BK4188":"贵重金属与矿石"},"translate_title":"Implats推出新的5亿美元黑人赋权协议","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"IMPUF":1,"IMPUY":1},"content_text":"Impala Platinum (OTCQX:IMPUY) (OTCQX:IMPUF) announced Monday a 9B South African rand (~$500M) deal that will result in black investors holding a 13% interest in the company and the Bafokeng business it acquired last year. Under the black economic empowerment deal, local communities and employees will each hold a 4% stake, while a consortium led by Siyanda Resources will take a 5% holding, Implats (OTCQX:IMPUY) (OTCQX:IMPUF) said. South Africa introduced a mining charter in 2004 to distribute the benefits from mining more widely among the country's citizens to make up for racial discrimination during apartheid. \"The transaction demonstrates the group's confidence in our business, the PGM sector and South Africa,\" Implats (OTCQX:IMPUY) (OTCQX:IMPUF) CEO Nico Muller said.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2436645104"}