JOHANNESBURG (miningweekly.com) – Dual-listed Eastern Platinum (Eastplats) will buy certain minority shareholders’ interests in Eastplats’ projects for $13.37-million.
Eastplats announced last week that it would sell its South African subsidiary Barplats Mines, which holds the Crocodile River mine (CRM) to Chinese company Hebei Zhongheng Tianda Platinum (HZT) for $50-million.
As part of that agreement, is was required to buy out certain minority interests.
Eastplats noted on Tuesday that the minority interests it was buying included CRM.
Following the sale of Barplats and CRM to HZT, Eastplats would retain ownership of its Eastern limb projects, including the Mareesburg, Spitzkop and Kennedy’s Vale projects.
Edited by: Chanel de Bruyn
Creamer Media Senior Deputy Editor Online
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