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Implats plans to sell chrome business

Newspaper advert invites potential purchasers.

JOHANNESBURG – South African platinum producer Impala Platinum plans to sell its chrome business to focus on its core business, the company said.

Implats has a 65 percent interest in Impala Chrome and plans to dispose of it, the company said in a newspaper advertisement this week inviting potential purchasers.

“We are only potentially selling our interest in a chrome extraction venture at Impala Rustenburg,” spokesman Johan Theron said, referring to the company’s mine in the North West Province.

The proposed sale will take place in a single transaction through a competitive tender process, Implats said.

“We have also prioritised local business entities to try and further integrate our business activity with local communities around the Rustenburg operation,” Theron said.

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David Kop

David Kop

The Financial Planning Institute of Southern Africa (FPI)
Moneyweb Click an Advisor
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Moneyweb Investor Issue 24

The relative strength of the rand has seen South Africans relax since the cabinet reshuffle and sovereign downgrades by S&P and Fitch. Don't be deceived - this is a self-inflicted wound. In the May issue of The Moneyweb Investor, we take a closer look to see which companies are likely to thrive and which will not, in the post-downgrade world.

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