Signed, Sealed, Delivered - Sibanye, Lonmin Conclude Merger

South Africa's Sibanye Mine's takeover of Lonmin Mine has been concluded, despite opposition from mining communities. The takeover which was approved by shareholders on May 28, 2019, brings an end to an era in the country's platinum sector as Lonmin, formerly linked to Lonrho, leaves with a history stretching back over a century. Sibanye now becomes the world's largest primary producer of platinum group metals. Lonmin has been at the centre of controversy after the killing of over 30 miners by police during a wage protest action in 2012. Sibanye has been involved in a restructuring exercise which threatened thousands of jobs earlier this year.

 

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