[miningmx.com] – THE first part of a transaction that will see Northam Platinum buy the Everest mine from Aquarius Platinum for R450m had become unconditional, the companies jointly announced today.
The structure of the deal comprises the R400m purchase of the Everest Mining Assets – which has now become conditional and is due to be implemented on June 26 – followed by the R50m purchase of the Everest Mining Right in which the consent of the mines minister is required for a change of ownership.
“The Part A completion gives Northam management early access to the Everest assets, and gives us the opportunity to start the integration process with the existing Booysendal operation,” said Paul Dunne, CEO of Northam.
