Impala Platinum could be on the verge of acquiring Royal Bafokeng Platinum (RBP), it has been confirmed.

The world's second-largest platinum producer issued a cautionary about a "potential transaction" which is thought to involve gaining access to RBP's South African mine.

Speculation about the deal intensified when it emerged that the planned listing of RBP on the Johannesburg Stock Exchange has been suspended following the receipt of a binding, non-conditional offer.

The Bafokeng Rasimone Platinum Mine (BRPM) joint venture is 67 per cent-owned by RBP, with Anglo Platinum taking up the remaining 33 per cent stake.

A statement released by RBP claimed that there "can be no certainty that these discussions will lead to a transaction".

However, it is believed that the announcement of RBP's listing on 20th September was designed to encourage Impala to firm up its long-held interest in the company.

"It looks like Impala is making the offer," Andrew Joannou, a fund manager at Cape Town-based Afena Capital, told Bloomberg.

"The property is adjacent to theirs and they can access the property pretty well from Impala's side."

Reports suggest the BRPM plans include the roll-out of the Styldrift project, with RBP potentially gaining output of 420,000 oz pgm per year (on a 100 per cent basis) when it reaches full production.

Anglo Platinum, which refused to confirm the identity of the bidder, was unlikely to increase its stake in the joint venture due to its already dominant position in the South African platinum industry.

Sources:



Impala: bidding for Bafokeng platinum? (30/09/10)



Impala Platinum May Buy Royal Bafokeng Unit to Access to South Africa Mine (30/09/10)



South African Community, Angloplat Get Offer For Mine (30/09/10) 

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