Royal Bafokeng Platinum (RBPlat) announced today, 17 January 2018, that it has received approval from the Competition Tribunal in its bid to purchase a concentrator plant and surface assets of the Maseve mine from Platinum Group Metals.
In September 2017, Platinum Group Metals said it was selling the Maseve Mine to RBPlat for an aggregate consideration equal to the rand equivalent of $74 million in cash and shares.
“One of the key conditions precedent to the transaction, being approval by the South African Competition Tribunal, has now been obtained, subject to conditions that are acceptable to the parties,” RBPlat announced in a statement.
“The parties continue to work together in fulfilment of the remaining conditions precedent.”
Maseve, located near Rustenburg, South Africa is operated by holding company Maseve Investments.