Northam Platinum intends to gain control of Royal Bafokeng Platinum (RBPlat) after acquiring a 34.68% shareholding in the company last year in line with its long-term growth and diversification strategy.
Lower production volumes and the impact of higher general mining inflation on costs added pressure, increasing the unit cash cost per equivalent refined platinum ounce by 18.6%. During the period under review, Northam acquired a 34.65% shareholding in mid-tier PGM producer Royal Bafokeng Platinum , triggering a bidding war with bigger rival Impala Platinum Ltd, which holds 35.31% of RBPlat.