South African mining company Sibanye-Stillwater and British producer of platinum group metals Lonmin Plc (Lonmin) have reported that Sibanye-Stillwater has filed a submission with the South African competition authorities, with regard to the proposed acquisition of Lonmin which was announced on 14 December 2017.
As is required by the South African Competition Act No. 89 of 1998, the required stakeholders have also been duly notified.
Sibanye-Stillwater and Lonmin remain fully committed to the proposed transaction which they continue to expect to close in the second half of this year. CEO of Sibanye-Stillwater, Neal Froneman, and CEO of Lonmin Ben Magara, commented on the filing. They said: “We are delighted to have filed the submission with the South African competition authorities. The proposed transaction remains in the best interest of stakeholders and will create a leading mine-to-market producer of PGMs in South Africa.”
Read the article online at: https://www.globalminingreview.com/finance-business/16032018/sibanye-stillwater-progresses-with-acquisition-process/