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

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ประเทศไทย ข่าว ข่าว

ประเทศไทย ข่าวล่าสุด,ประเทศไทย หัวข้อข่าว

Impala Platinum has decided not to exercise its option to raise its stake in a promising palladium project in the Waterberg. Palladium was all the rage a few months ago, but the Covid-19 pandemic has dramatically altered the global economic landscape and mining companies are focused on cash preservation rather than expansion.

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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ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว

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