Mining Weekly reports that precious metals miner Sibanye-Stillwater and platinum group metals miner Lonmin have agreed to extend the longstop date for the transaction in which Sibanye will acquire all of Lonmin’s issued share capital.  

The extension is from 28 February to 30 June.  This follows after the Association of Mineworkers and Construction Union (Amcu) on 19 December filed an appeal with the Competition Appeal Court against the Competition Tribunal’s decision to approve the transaction.  The companies reaffirmed their commitment to the transaction, pending finalisation of the appeal.  While the companies have argued that the combination of Sibanye and Lonmin would create a larger and more resilient company, Amcu is contesting the potential 10,000-plus job losses at Lonmin.

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