Top South African miner becomes a R122 billion takeover target

• Northam Platinum has received an unsolicited approach from a major producer of platinum-group metals in South Africa, sparking a competitive process to consider potential transactions.
• The company is expanding PGM output from its mines as the primary supply is forecast to decline in the coming years, with production targets of 1.5 million ounces by early next decade.
• The move is seen as a response to the sector's upheaval, including the recent spin-off of Anglo American's platinum business and the decline of platinum and palladium prices this year.