Sibanye-Stillwater is opposing a Constitutional Court application launched by six mining communities to have the company's merger with Lonmin reversed. The mining communities said they were excluded from merger talks. However, Sibanye-Stillwater said the merger is 'practically impossible' to reverse as it has been implemented.
"Simply put, it would be impossible for the egg now to be unscrambled."
This is how precious metal miner Sibanye-Stillwater has responded to a Constitutional Court application by six North West mining communities to have the company's R5.4-billion merger with Lonmin reversed and declared unlawful.
The Greater Lonmin Community, which represents six mining communities on the platinum belt of Rustenburg, wants to appeal a Competition Appeal Court judgment that paved the way for the merger to be approved because directly affected communities were allegedly excluded from merger talks. The six mining communities are Marikana, Mooinooi, Majakeng, Tornado, Nkaneng, and Bapo Ba Mogale.
In a responding affidavit submitted on 31 July, Sibanye said the merger with Lonmin, which created an enlarged entity that will become one of the world's leading sources of platinum group metals, has been implemented and it would be "practically impossible" for it to be reversed.
Richard Stewart, Sibanye's executive vice-president for business...
Read the full story on Daily Maverick.
After Gobbling Up Lonmin, the Sibanye Juggernaut Rolls On
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