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Impala Platinum Buys 15% Stake in Waterberg Project for $30 Million
$IMPUF that it will buy a 15% stake in the Waterberg platinum project in South Africa for $30 million.
The South African platinum miner said it will acquire the interest from Platinum Group Metals Ltd. $PLG

Located in Limpopo province, Waterberg represents a large-scale platinum group metal resource, it added.
Following a feasibility study, Impala will have 90 business days to determine whether it exercises its option to acquire control of the project and a further 90 days to confirm financing arrangements, the company said.
Impala said it could obtain a 50.01% shareholding in the project by purchasing an additional 12% interest from Japan Oil for $34.8 million and by contributing $130 million into Waterberg in return for an additional 23% interest.