JOHANNESBURG, South Africa, June 30, 2003 (PRIMEZONE) -- Impala Platinum Holdings Limited (Implats) (Pink Sheets:IMPUY) (Other OTC:IMPAF) (JSE:Imp) (LSE:Impla) (ADRS:Impuy) announced today (June 30, 2003) that the company intends to acquire ABSA Bank's 14.82% indirect interest in the issued shares of Zimplats Platinum Mines Limited (Zimplats), for a consideration of R142 million ($19 million). Implats currently holds approximately 35.71% of Zimplats.
Zimplats, which is listed on the Australian Stock Exchange, holds 70% of the Ngezi open cast mine and the Selous Metallurgical Complex (SMC), which comprises Makwiro Platinum Mines, on the Great Dyke in Zimbabwe. Implats currently holds a 30% direct interest in the Makwiro project. Through an agreement with Implats' subsidiary, Impala Refining Services, Implats refines and markets the PGM matte that is produced by Zimplats.
Shareholders are referred to a separate announcement made today (June 30, 2003) by Implats in respect of an offer to Zimplats minorities.