After years of boardroom battles and slipping off SA's mining radar screen, the struggle for Nkwe Platinum’s 44-million ounces of platinum group metals (PGMs) is nearing its end, but with a final twist. Events for Australia’s Sydney-listed Nkwe have seldom been simple, failing to bring its resources to account despite a bankable feasibility study completed in 2012 into building a mine and concentrator at Garatau near Steelpoort in Limpopo. Nkwe is on the cusp of being delisted from the Australian Stock Exchange by the majority owner, China’s state-owned and Shanghai-listed Zijin Mining Group, but there is deep unhappiness among a group of 420 minority shareholders representing 22% of the shares who are fighting a battle in the Bermuda High Court for a higher payout for their stake. Nkwe is registered in Bermuda. Zijin will take over Nkwe entirely and the assets held by Nkwe, essentially the three farms on the Eastern Limb of the Bushveld Igneous Complex, the world’s largest known PG...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now