HomeNewsEastplats to buy out minority interests in 13.3M deal

Eastplats to buy out minority interests in 13.3M deal

Last month, Eastplats reached a definitive agreement with Chinese company Hebei Zhongheng Tianda Platinum (HZT), whereby Eastplats would sell its South African subsidiary Barplats Mines, which holds the Crocodile River mine, to HZT for $50-million – payable in cash.

Eastplats
Eastern Platinum – Crocodile River Mine

As part of the acquisition by HZT, Eastplats is also required to buy out certain minority interests in its projects and has resultantly reached agreement with certain holders of the minority interests to buy their interests in all the company’s projects, including the Crocodile River mine.

On completion of the sale of the Crocodile River Mine, HZT will assume operating responsibility for the Crocodile River mine and ownership of Barplats Mines while Eastplats will continue to maintain ownership of its Eastern Limb projects, which include the Mareesburg, Spitzkop and Kennedy’s Vale projects.

Chantelle Kotze
Chantelle Kotze is a Johannesburg-based media professional. She is a contributor at Mining Review Africa (Clarion Events - Africa) and has created content for the media brand over the past 6 years.

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