UPDATE 1-S.Africa's Impala to buy North American Palladium for about $750 mln [Yahoo! Finance News]
IMPALA PLATINUM HLDGS ADR (IMPUY)
NASDAQ:AMEX Investor Relations:
implats.co.za/results-and-presentations.php
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Source: Yahoo! Finance News
South Africa's Impala Platinum Holdings Ltd (Implats) said on Monday it would buy Canada-based North American Palladium Ltd for about C$1 billion ($751.77 million), marking the miner's first purchase outside of Africa. "(The acquisition) not only signals our confidence in the prevailing platinum group metals (PGM) market but it also expedites our transition to a high-level multinational producer," Implats Chief Executive Officer Nick Muller said on a media call. Implats pursued North American Palladium for three years, and the deal adds the Lac des Iles Mine in Thunder Bay, Ontario to the South African company's portfolio.
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