RBPlat wins legal challenge to its R840m acquisition of Maseve mine
The high court has dismissed a challenge against the 2018 acquisition of the mine with costs, finding against a subsidiary of Wesizwe Platinum
Royal Bafokeng Platinum (RBPlat) has won a legal battle over its $70m (R840m) acquisition of the Maseve Mine near Rustenburg in 2018, with the high court ruling against a Wesizwe Platinum subsidiary that maintained it hadn’t given its consent for asset sales.
The court victory potentially removes a legal headache for RBPlat, which is the subject of a takeover bid by Impala Platinum. While the Maseve Mine is under care and maintenance, the miner has been upgrading its concentrators there, spending R428m on the project as of 2021, with the acquisition also allowing it to ramp up production at its neighbouring Styldrift mine...