JOHANNESBURG (miningweekly.com) – South Africa’s competition authorities have approved the sale of dual-listed Eastern Platinum’s (Eastplats’) platinum-group metals (PGM) business to Hebei Zhongbo Platinum (HZP) for $225-million.
The companies in June restructured the deal, which would see HZP pay $85-million in cash to buy the Crocodile River Mine and associated intercorporate loans.
It would acquire Eastplats’ remaining PGM assets – the Spitzkop, Kennedy’s Vale and Mareesburg projects – along with intercorporate loans, for a further $140-million.
The deal had yet to be approved by South Africa’s Department of Mineral Resources.