JOHANNESBURG — The Competition Tribunal has approved Sibanye Gold’s takeover bids for Aquarius Platinum and the Rustenburg mines owned by Anglo American Platinum, with conditions around layoffs at both assets.
The tribunal said job cuts at the Rustenburg mines were limited to 260 jobs provided the mines were consolidated into Sibanye within two years. The Department of Mineral Resources must approve the transfer of mining rights at Rustenburg to Sibanye.
At Aquarius, 14 retrenchments were flagged by Sibanye. The tribunal limited Sibanye to these job cuts.
Sibanye spokesman James Wellsted said the company was pleased the tribunal had accepted its submission on the mergers.
Picture: SUPPLIED
JOHANNESBURG — The Competition Tribunal has approved Sibanye Gold’s takeover bids for Aquarius Platinum and the Rustenburg mines owned by Anglo American Platinum, with conditions around layoffs at both assets.
The tribunal said job cuts at the Rustenburg mines were limited to 260 jobs provided the mines were consolidated into Sibanye within two years. The Department of Mineral Resources must approve the transfer of mining rights at Rustenburg to Sibanye.
At Aquarius, 14 retrenchments were flagged by Sibanye. The tribunal limited Sibanye to these job cuts.
Sibanye spokesman James Wellsted said the company was pleased the tribunal had accepted its submission on the mergers.
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