Sibanye-Stillwater Receives South African Reserve Bank Approval for Proposed Acquisition of Lonmin

Lonmin Plc (“Lonmin”) notes the news that Sibanye-Stillwater has received the approval of the South African Reserve Bank, as required in accordance with the Exchange Control Regulations of South Africa, with respect to the proposed acquisition of Lonmin, which was announced on 14 December 2017 (the “Proposed Transaction”). The Proposed Transaction remains scheduled for closure during the second calendar half of 2018 and subject to, inter alia, the passing of the required resolutions by Lonmin and Sibanye-Stillwater shareholders and the approvals of the competition authorities of the United Kingdom and South Africa. Ben Magara, CEO of Lonmin said “We are pleased that Sibanye-Stillwater has the approval of the South African Reserve Bank for the Proposed Transaction. Lonmin is working closely with Sibanye Stillwater towards completing the Proposed Transaction during the second half of the year as planned. Lonmin remains committed to its strategy of focusing on operational performance, controlling costs and preserving cash”.

Comments

Post a Comment

Popular posts from this blog

Mines to gain control of yellow metal assets – aims to reduce fraud

SAMAR announces plans to cover entire life-cycle of all assets MIDRAND, SOUTH AFRICA – 25 May 2017 – The Southern African Movable Asset Register (SAMAR) today announces its plans that will allow mines, contractors, manufacturers, importers, builders, banks, insurers as well as the general public to control title and ownership of all movable assets, including yellow metal and other movable assets used during operations. In Africa, many yellow metal assets are crudely marked and registered to businesses. However, SAMAR creates the most recent reliable record of an asset and yellow metal by updating records in real-time as changes are made by various system participants. This allows businesses to effectively manage and control the financing of assets and yellow metal not on eNaTIS throughout their lifecycle. This greatly reduces fraud, theft, double discounting, or incorrect depiction for value and insurance purposes. Benefits for contractors • The value of movable assets and yello...
Read more

Reconditioning of components with Thermal Spray Coatings

Image
The application of Thermal Spray coatings by South Africa’s leading surface coating specialists, Thermaspray, can lead to an enhancement in performance and an extension of service life of expensive engineering parts and industrial components, leading to substantial reductions in downtime and production costs. Engineering components and parts in production processes are subject to degradation through wear, corrosion, oxidation and cavitation. Thermaspray, Managing Director, Dr. Jan Lourens, points out that as all these degradation processes are active on the surface of components, a suitably selected and correctly applied surface coating like Thermal Spray can effectively re-condition production equipment to ‘as new’. “In fact”, adds Dr. Lourens, “very often, through degradation analyses and the selection of a superior coating, a thermal spray coating makes it possible to provide virtually as good as new a component. Most importantly for the end user, this means substantial cost sav...
Read more

Creativity Saves Lives. Protect your people today, tomorrow and for the future

Image
MEDIA STATEMENT A strong Health and Safety culture improves productivity and assists in creating a safe and great place to work. The health and safety dialogue company ensures labour force, management, community and all stakeholders are aligned in creating and respecting a safe and healthy working environment. Through workshops and visual campaigns, we bring your Health and Safety Policy to life. Legislation is designed to protect human life and to enforce safety standards. However, OHS Acts are often complex and difficult to understand especially in areas with low literacy. It is essential as a business to ensure your labour force truly understand the associated risks within their working environment; culture goes beyond ticking training boxes. Has your organisation considered the importance of promoting a Health and Safety culture? Are you confident your employees are living and working in a safety conscious culture beyond paperwork and legislation? The vision of the health and...
Read more