Lonmin Platinum Mine Chief Executive Officer (CEO), Ben Magara, has welcomed the Competition Appeal Court’s ruling against the Association of Mineworkers and Construction Union (AMCU).
The union appealed against a tribunal’s decision to conditionally approve Sibanye-Stillwater’s takeover of Lonmin.
Sibanye’s bid for Lonmin has now cleared all the hurdles ahead of shareholder votes at both companies to approve the transaction.
Sibanye will be in one of the leading positions as a global platinum group metals producer. On Friday, the court dismissed AMCU’s appeal with costs.
Sibanye CEO, Neal Froneman, says the transaction is in the best interest of all stakeholders who will vote on May 28th.