BUSINESS MAVERICK: Implats decides not to take option in Waterberg project as miners conserve cash

On 16 October 2017, Impala Platinum announced a 15% strategic investment in the Waterberg Development project. Implats had the right to take a majority stake in the project, based on the outcome of a feasibility study.

So it was looking like a done deal, with Implats, which was generating nice cash flows, seen likely to take its option to lead the project into development and production.“The original investment decision was informed by Implats’ stated strategy to rebalance its portfolio of mining assets towards lower risk, shallow and mechanisable orebodies,” Implats said in a statement on Wednesday, 17 June.

There is little investor appetite at the moment for such undertakings. And developing a mine in the ecologically fragile Waterberg region will certainly be on the radar screen of conservationists if it ever gets off the ground, raising its risk profile.

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