Shares of Royal Bafokeng Platinum surged almost a quarter on Wednesday after bigger rival Impala Platinum said it planned to buy it in a deal that could create the world’s biggest platinum group metals producer.
Flush with a R23.5bn net cash pile, Implats’s move offered prospects of further consolidation in an industry that has got a boost from higher rhodium and palladium prices...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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