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Northam Platinum gatecrashed a planned takeover of Royal Bafokeng Platinum (RBPlat), offering R17bn for a third of the company in a surprise move that knocked off course Impala Platinum’s (Implats) planned tie-up with the mid-tier platinum group metals (PGM) producer.

The clamour for RBPlat assets first came to light two weeks ago when RBPlat and Implats said they were exploring a potential transaction...

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