Mining News

RBPlat board keeps temporary hold on top two as acquisition overtures pan out

The CEO and COO of platinum group metals company Royal Bafokeng (RBPlat) have agreed to work beyond their scheduled retirement dates as the acquisition overtures being made for the company by Impala Platinum and Northam Platinum intensify. Regarding the retirement of RBPlat CEO Steve Phiri, the JSE-listed company said in a Stock Exchange News Service announcement on Tuesday that the board has reached agreement on the retention of Phiri’s to services as CEO and executive director of the company post his retirement. This retention is taking the form of Phiri agreeing to a fixed-term 12-month contract, or continuing to serve the company until certainty is attained regarding “the final outcome of the current corporate action”.

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