TORONTO — Shareholders of North American Palladium Limited have approved the sale of the company to South Africa-based Impala Platinum Holdings.
The $1-billion transaction was announced in October.
NAP announced Wednesday that "96.69 per cent of the shares voted at the meeting [Wednesday] voted in favour" of the special resolution approving the deal.
The transaction is expected to close by the end of next week.
North American Palladium is the seventh-largest platinum producer in the world.
Impala Platinum Holdings is the third-largest producer.
The Lac des Iles mine, 100 kilometres north of Thunder Bay, employs about 500 people.