A made-in-Canada mining success story is being gobbled up by a South-African company with deep roots in the palladium industry.
Johannesburg-based Implats announced Monday it is acquiring Toronto-based North American Palladium and its Lac Des Iles mine north of Thunder Bay for $1 billion.
Once an acquisition arrangement “is complete, NAP will be delisted and become a wholly-owned subsidiary of Implats,” an Implats news release said.
About 700 people work at the 25-year-old Lac Des Iles operation located about 85 kilometres north of Thunder Bay.
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