Impala Platinum Holdings Ltd. is to raise $297.4 million through a stock sale to bolster its finances, battered by tumbling metal prices and the costs of ramping up South African output which contributed to a hefty annual loss.
Aquarius Platinum Ltd., the fourth- largest producer of the metal, fell to a more than three-year low in Johannesburg as Zimbabwe rejected a joint proposal with Impala Platinum Holdings Ltd. to meet local ownership rules.
South Africa risks cutting the mine output that contributes 8.8 percent of the economy as calls from within the governing political party for a state takeover of the industry deter investors, Impala Platinum Holdings Ltd. said.
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