Impala Platinum (Implats) has launched an R11.4bn cash bid for North American Palladium, a Canadian mining company, in a move that could diversify its asset base and reduce its risk.

Implats, one of the world’s major platinum and palladium producers, has assets in SA and Zimbabwe, which are regarded as two of the riskier mining jurisdictions. Buying assets in Canada dilutes that risk and would give it control of a pure palladium producer.

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