Nkwe Platinum Limited
Nkwe Platinum & Argonaut
Argonaut acted as Financial Advisor to facilitate the $89.6 million takeover between Nkwe Platinum Limited and Gold Mountains (Bermuda) Investment Limited, a wholly-owned subsidiary of Zijin Mining Group Co. Limited. Zijin Mining was an existing shareholder and sought to acquire the remaining shares of Nkwe Platinum, a mineral exploration and development company with projects in South Africa. Argonaut facilitated the takeover after representing a 25% increase from the initial offer.
Nkwe Platinum Limited’s main asset was the Garatau Mine in Limpopo Province, South Africa. In 2018, Zijin Mining Group Co., Ltd. acquired Nkwe Platinum Limited through its Australian subsidiary, Gold Mountains Investment Limited. Zijin Mining Group is a multi-national mining group engaged in exploring and developing base minerals for the Chinese market. Zijin Mining Group Co. Limited is one of China’s largest mineral resource companies with assets and investments in over 14 provinces in China and 11 countries.