MINING
Sibanye hits back at $1.2bn claim over failed Brazilian deal
Appian Capital says group claimed ‘incorrectly’ that Santa Rita mine geotechnical instability was a material and adverse event
02 March 2022 - 12:15
UPDATED 02 March 2022 - 18:38
Sibanye-Stillwater hit back in an escalating dispute with Appian Capital, saying the UK private equity outfit’s public statements to sue it for $1.2bn (R18.5bn) are superficial and aimed at tainting its image ahead of the annual results announcement.
Sibanye has been locked in a dispute with Appian Capital since January, when the SA mining heavyweight backed out of a deal to pay $1.2bn for two mines owned by the buyout firm in Brazil on grounds that a failure of part of the wall of the opencast mine had trashed the commercial merits of the transaction...
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