The Russian miner wants to recover $271 million it lost when a state-backed company failed to complete the acquisition of a 50% stake in its Nkomati mine in South Africa.
The Morila operation continues to deliver value in its post-mining phase while progressing plans to develop the site into a commercial agricultural hub after its closure in 2019, Randgold Resources chief executive Mark Bristow said at an on-site media briefing today.
Shareholders voted overwhelmingly in favour of the cash takeover, which will make the South African firm the world's No.3 palladium producer and No.4 platinum group metals miner.