Impala Platinum is in talks to buy its smaller rival Royal Bafokeng Platinum.

Company reported an eight-fold jump in third-quarter adjusted profit on Wednesday, driven by higher prices for steelmaking coal.

The company said the move by the Forest Service was "politically motivated and completely unnecessary."

With coal prices soaring, Glencore will get a "fat cheque" from revenues when the deal closes in 2022.

The company also reported a 28.9% increase in revenue year over year, to $3.65 billion.

Forrest, whose Fortescue Metals Group aims to become carbon-neutral by 2030, has been travelling the world to promote green hydrogen.

The company reported a net profit of $11.63 billion in the first nine months of this year.