SMM10, March 8: South Africa's Impala Platinum Holdings Ltd said Monday it would buy Canada-based North American Palladium, for about C $1 billion (US $757.7 million), its first acquisition outside Africa.
Nick Muller, chief executive of Implats, said the acquisition demonstrated the company's confidence in the platinum group metals (PGM) market.
So far, palladium prices have doubled from their August lows as stricter environmental regulations force carmakers to tilt towards palladium.
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