Impala Platinum (Implats) is forking out R11.4bn for a Canadian palladium mine 13,200km from its head office in Johannesburg.

The acquisition of North American Palladium (NAP) is a bet on continued strong demand for the metal, which is mainly used in catalytic converters to reduce harmful emissions from petrol engines, but analysts worry that Implats might have overpaid and say there are some better assets closer to home.

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