Impala Platinum on Wednesday announced the mining sector's largest black economic empowerment deal to date, by selling R5.2-billion worth of shares to the Royal Bafokeng Nation and Implats staff.

Implats, the world's second-biggest platinum producer, said it had entered into an agreement with Royal Bafokeng Resources Holdings, which will result in it having an approximate nine percent stake in Implats.

Members of the Royal Bafokeng Nation are beneficiaries of the deal, as well as Implats staff.

The deal entails selling a 49 percent stake in Impala Refining Services to Royal Bafokeng Resources for R3.4-billion, a R1.7-billion employee share ownership scheme, and a R340-million development trust.

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