Impala Platinum/Lonmin. A KNIFE TO THE GORDIAN KNOT.

(From Financial Mail)

Byline: Brendan Ryan

Impala Platinum/Lonmin A KNIFE TO THE GORDIAN KNOT Lonmin is being viewed as the main beneficiary of the deal through which Impala Platinum (Implats) will sell its 27,1% stake in Lonmin subsidiary Lonplats for US$800m. But the deal could have big repercussions for both groups as well as the Royal Bafokeng Nation (Bafokeng). It will release Implats and Lonmin from the bind they have been in for the past decade.

As suggested previously (Companies September 5, Business July 18), Implats is using this deal as an alternative to the Bafokeng to meet the equity aspect of the black economic empowerment (BEE) requirement of the mining charter. One of key preconditions for the deal to go through is "reasonable" confirmation from the department of minerals & energy that both …