Implats moves on machine mining
Impala Platinum's Waterberg prospect deal promotes its strategy of finding shallow resources that can be mined by machines
For $30m Impala Platinum (Implats) has bought itself 15% of a deposit in the right area to promote its strategy of finding shallow resources that can be mined by machines. This will diversify its risk away from expensive, labour-intensive, deep-level mines in its portfolio in SA. For a further $160m, Implats has agreed to buy 50.01% control of the undeveloped Waterberg prospect owned by Canada’s Platinum Group Metals (PTM) and Japan Oil, Gas and Metals National Corporation (Jogmec). This will depend on a definitive feasibility study proving the building of a mine to the north of Anglo American Platinum’s fabulously profitable Mogalakwena opencast mine on the Northern Limb of the Bushveld Igneous Complex to be economically viable. When PTM failed to make a success of its shallow Maseve mine and sold it to Royal Bafokeng Platinum recently, analysts said it was highly unlikely that the Canadian company would readily find backers to invest in yet another mine development managed by it. ...
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