NORTHAM Platinum has unrivalled firepower in the platinum sector with R4bn which it plans to put to use funding growth.Shareholders on Thursday endorsed a R6.6bn black economic empowerment transaction that will inject the cash into the business in May and give it the strongest balance sheet in the platinum sector.At the end of December, Implats had cash of R2.7bn, Amplats had R1.2bn and Aquarius $172m (R2.1bn).The transaction, replacing an earlier failed empowerment scheme, boosts black ownership of Northam to 35.4%, well above the mandatory 26%, and secures the company’s mining rights.The empowerment participants include the Atisa Consortium headed by Lazarus Zim, the former empowerment partner; the Mpilo Resources Consortium led by Sipho Mseleku; and the Malundi Consortium led by Brian Mosehla. Shares will also be held by the Khumalela Women’s Consortium led by Brenda Madumise, the former chairwoman of Business Unity SA and a PetroSA board member.Northam had its empowerment partne...

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