Impala Platinum's chief executive, Keith Rumble, has said that shareholders can expect a windfall from the sale of the company's 27.1 per cent stake in Lonplats.

Impats will retain $658 million of the $800 million the divestment is expected to generate, with the balance going to a new company, Newco, a black empowerment enterprise to which will be jointly controlled by Lonplats' parent, Lonmin.

The move, which prompted a 4.26 per cent boost in the price of Implats shares, moves both companies closer to the 26 per cent empowerment requirement specified by the Mining Charter's scorecard.

Mr Rumble said that between $100 million and $200 million would be spent on the group's growth programme, with the balance being returned to shareholders, although he would not speculate on the size of the payout.

'The full value of Lonplats was never fully seen in Impala's shares, and this deal should unlock that value', he said.

He also confirmed that, following the increase of Implats' holding in Zimbabwe Platinum to 82 per cent, no further expansion or restructuring is envisaged in the immediate future.

'We are comfortable with our holdings as they stand', said Mr Rumble, which seems to be an indication that the company will not be offloading its loss-making 83 per cent stake in Barplats.