Implats Bursary for candidates with leadership potential
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Source: www.implats.co.za/
Impala
Hans Merensky first discovered platinum in the Bushveld Igneous Complex in 1924. Impala was created in the mid 1960’s to house Union Corporation’s platinum interests. At that 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 was producing in the region of 1 million platinum ounces per annum. A mining lease over land predominantly owned by the Bafokeng Tribe (now the Royal Bafokeng Nation (RBN)) 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 RBN in February 1999. In terms of this agreement, the RBN not only enjoyed royalties from metals mined in areas over which they hold 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 making the RBN the group’s largest shareholder.
Impala is Implats’ primary operational unit and has operations situated on the Impala lease area on the western limb of the world-renowned Bushveld Complex near Rustenburg, and in Springs, east of Johannesburg. In FY2014, a year impacted by a five-month strike, Impala produced 411000 ounces of refined platinum. A strategic review is currently being undertaken and is scheduled to be completed by the end of December 2014. The results will be communicated in February 2015.