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ANA reports that Sibanye-Stillwater on Thursday filed court papers to oppose an application by a Rustenburg community to halt Sibanye's R5.2-billion acquisition of platinum producer Lonmin.
Last month, the Greater Lonmin Community (GLC) approached the Constitutional Court seeking leave to appeal and set aside the acquisition. The GLC is a not-for-profit organisation representing various affected communities of Rustenburg, such as Marikana, Mooinooi, Majakeng, Tornado, Nkaneng, and Bapo ba Mogale. The GLC wants the court to declare the merger of Sibanye and Lonmin unconstitutional and irregular, arguing amongst other points that it was approved without the Department of Mineral Resources (DMR) having approved a social labour plan (SLP) on a large merger. Sibanye’s Richard Steward has responded in an affidavit that the GLC's application was irregular, incompetent and lacking in merit for several reasons. He maintained that the argument made about the SLP had no relation to the merger or the Competition Act as SLPs were governed by the Department of Mineral Resources (DMR). Steward pointed out that Lonmin had submitted its revised second SLP to the DMR in January 2018 and it was approved three months later – after the DMR had issued it with a notice to address certain aspects of the plan. He indicated a third SLP that would be effective from 2019 to 2024 had yet to be approved.
- Read the full original of the above report at Mining Weekly
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