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Sibanye-Stillwater successfully takes over Lonmin

10 June 2019 2:41 PM
Tags:
Lonmin
Sibanye Gold
Marikana
sibanye

Mining MX contributor Ed Stoddard says Sibanye has thrown a lifeline to the shareholder.

Sibanye-Stillwater has successfully acquired Lonmin.

The merger has made Sibanye a larger source of platinum than Anglo American Platinum.

Since the deal was first unveiled in December 2017, it was challenged by the Association of Mineworkers and Construction Union (Amcu).

Speaking to Nickolaus Bauer, Mining MX contributor Ed Stoddard says Lonmin has not been productive for a very long time.

READ: Sibanye-Stillwater to buy Lonmin

Lonmin has seized to exist.

Ed Stoddard, Contributor - Mining MX

READ: Amcu workers return to work, some share challenges brought on by strike

Even before Marikana, it was having a number of issues, and it basically had gotten to the point where it was no longer a going concern. Sibanye threw in a lifeline to the shareholder.

Ed Stoddard, Contributor - Mining MX

Sibanye is now a precious metals company.

Ed Stoddard, Contributor - Mining MX

Listen to the full interview below...


10 June 2019 2:41 PM
Tags:
Lonmin
Sibanye Gold
Marikana
sibanye

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