Impala Platinum

Impala Platinum, Implats’ primary operational unit, has operations situated on the Impala lease area on the western limb of the world-renowned Bushveld Complex near Rustenburg in South Africa, and in Springs east of Johannesburg. In FY2007 the operation produced 1.055 million ounces of platinum and has a 30 year production plan in place to produce between 1.1 and 1.2 million ounces of platinum per annum.

Hans Merensky first discovered platinum in the Bushveld Igneous Complex in 1924. Impala was established in the mid 1960’s to house Union Corporation’s platinum interests. At this time a prospecting permit was acquired and initial production commenced in 1969. Initially Impala mined the Merensky Reef and mining on the UG2 chromitite layer only began in the early 1980’s as the technology to smelt higher chrome ore was developed. By the early 1990’s Impala had become a 1 million ounce per annum platinum producer.

A mining lease over land predominantly owned by the Bafokeng Tribe (now the Royal Bafokeng Nation) was originally granted in 1968. A landmark agreement securing Impala’s access to these mineral rights for a period of 40 years was signed with the Royal Bafokeng Nation (RBN) in February 1999. In terms of this agreement, the RBN not only enjoyed royalties from metals mined in areas over which they held mineral rights, but they also became a major shareholder in the holding company, Implats, with board representation. A new agreement finalised in early March 2007 resulted in the royalty being converted into equity in Implats thus making the RBN that company’s largest shareholder.