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Northam’s Everest mine acquisition concluded

1st October 2015

  

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JOHANNESBURG (miningweekly.com) – The Department of Mineral Resources has given its consent for the transfer of the Everest mining right from Aquarius Platinum to Northam Platinum.

Northam in February announced that it would acquire the Everest mine from Aquarius in a R450-million deal, with the first R400-million tranche for the mining assets paid in June.

The remaining R50-million payment for the mining right would be finalised on October 8.

“We are pleased to have successfully implemented this key strategic acquisition, which provides us with significant long-term organic growth optionality.

“With Everest now part of the broader Booysendal mining footprint, Northam is well positioned to assess and prioritise its internal growth opportunities,” Northam CEO Paul Dunne said.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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