Sibanye-Stillwater's bid for Lonmin clears an important hurdle
Key assets in the Lonmin takeover are its concentrators, smelters and refineries, which give Sibanye the rare advantage of being a mine-to-markets operator in the SA PGM space
Sibanye-Stillwater’s all-share bid for world number three platinum miner Lonmin cleared an important hurdle on Monday. The Competition Commission recommended the transaction with conditions, particularly on job losses and procurement deals. The recommendation will be considered by the Competition Tribunal, which has the final say on the transaction that will make Sibanye one of the world’s leading sources of platinum group metals (PGMs). Key assets in the Lonmin takeover are its concentrators, smelters and refineries, which give Sibanye the rare advantage of being a mine-to-markets operator in the SA PGM space.
Only Anglo American Platinum and Impala Platinum have the entire pipeline under their control, while Northam Platinum has a long-standing agreement with Heraeus to refine its metals. Sibanye has already bought Anglo American Platinum’s Rustenburg mines and the neighbouring Aquarius Platinum assets. By acquiring Lonmin, Sibanye ties up a vast chunk of PGM-rich real estat...
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