Platinum producers merging interests

Two major companies operating in South Africa, Impala and Lonrho, are consolidating their platinum interests. Impala, that country’s second largest platinum producer, will swap control of its developing Karee mine for a 25% interest in Lonrho’s Western Platinum and 27% of future profits.

Karee is being developed to turn out 300,000 oz. per year. Western Platinum, with annual output of 200,000 oz., is developing a new mine (Eastern Platinum) capable of producing 180,000 oz. per year.

South Africa accounts for about 80% of the world’s platinum. The largest South African producer of the precious metal is Rustenburg.