RSS   Newsletter   Contact   Advertise with us

Lonmin's mining union tries to block Sibanye deal

Staff Writer | December 20, 2018
A South African union has filed an appeal to overturn a mining deal in which Sibanye-Stillwater intends to acquire rival Lonmin, Sibanye said.
Africa   Sibanye-Stillwater
The Association of Mineworkers and Construction Union (AMCU), protesting to job cuts related to the deal, launched an appeal with the Competition Appeals Court.

The union's action comes almost a month after the Competition Tribunal gave the deal the thumbs up on condition that Sibanye does not cut jobs for a period of six months.

The all-share deal, valued at 285 million pounds ($361 million), is likely to lead to more than 10,000 layoffs, both companies have said. Sibanye-Stillwater and Lonmin intend to request an urgent hearing from the Competition Appeals Court in relation to AMCU’s appeal, Sibanye said on Wednesday.