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Impala Platinum (Implats) will be paid over R3-billion by a US recycling company to compensate for years of defaulted payments, the mining company said yesterday.
A US district court confirmed an award from the London Court of International Arbitration that ordered recycler A1 Specialised Services and Supplies Limited to pay Implats the full amount sought.
A1 stopped delivering scrap metals to the platinum producer when it went into default after the economic crash of 2008.