11 Oct
Impala Platinum is confident in platinum group metals, buying North American palladium for $758 million
Impala Platinum is confident in platinum group metals, buying North American palladium for $758 million
Source: Shanghai Nonferrous Metals Network
Abstract:
South Africa's Impala Platinum Holdings Ltd said on Monday it would buy Canada-based North American Palladium for about C $1 billion (US $757.70 million), its first acquisition outside Africa. Implats CEO Nick Muller said the acquisition showed the company's confidence in the platinum group metals (PGM) market.South Africa's Impala Platinum Holdings Ltd said on Monday it would buy Canada-based North American Palladium for about C $1 billion (US $757.70 million), the company's first acquisition outside Africa.
Implats CEO Nick Muller said the acquisition demonstrates the company's confidence in the platinum group metals (PGM) market.
So far, the price of palladium has doubled from its low point in August last year, as stricter environmental regulations now force carmakers to tilt towards palladium.
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