The southern African nation sees the mining sector as the main driver for reviving an economy crippled by triple-digit inflation and high unemployment.
Implats said the transaction would "reposition its portfolio and strengthen its competitive positioning in line with its stated strategy by acquiring a palladium-rich, operating asset in an established mining jurisdiction".
As wage negotiations with some South African platinum producers reach deadlock, one labor union welcomed a new rule for any strike to require backing from workers in a secret ballot.