The southern African nation is experiencing daily power cuts lasting up to 18 hours after a severe drought reduced water levels at the country's biggest hydro plant.
New report shows private funds raising money for investment in metals and mining came up empty in Q3 and so far this year commitments total a paltry $100m.
The Vancouver-based company announced that the weighted price of the 'basket' of metals contained in the ore at the Platreef project rose to a new, multi-year high.
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".