Sibanye Gold’s proposed R30bn acquisition of New York-listed Stillwater Mining Company may have suffered a setback on Friday when the US government decided to scrutinise the deal more closely before authorising it. Sibanye’s share price fell 3.4% to R25.07 and Stillwater 0.47% to $17.11 in what was generally a bad day for gold miners. The JSE’s gold miners’ index was down 3.7% at 12:40pm on Friday, with Harmony the biggest casualty with a 6.4% drop. Sibanye said in a statement on Friday that it had received written notification from the Committee on Foreign Investment in the US (CFIUS) that it wished to undertake further investigation. To this end, the committee extended its deadline to April 14 from the original February 28. "The notification is in line with standard CFIUS procedure for a transaction of this nature," Sibanye said. The proposed acquisition was first announced on December 9 and received approval from US competition authorities on January 19 and from the South African...
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