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Sibanye clears state barrier to buy Amplats mines

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A mine worker stirs molten gold in a furnace before casting. T
ransfer pricing and profit 
shifting by multinationals inside and outside SA compromises empowerment partners, workers, communities and the country’s economy
A mine worker stirs molten gold in a furnace before casting. T ransfer pricing and profit shifting by multinationals inside and outside SA compromises empowerment partners, workers, communities and the country’s economy
Simon Dawson / Bloomberg / Getty Images

Cape Town – Sibanye [JSE:SGL] has cleared the final regulatory hurdle for its R4.58bn acquisition Anglo American Platinum's (Amplats) [JSE:AMS] Rustenburg mines, the companies announced in separate statements on Wednesday.

Sibanye was trading 2.92% higher at R41.99 on Wednesday at 09:30, increasing its market cap to R38.79bn, while Amplats was trading 0.32% higher at R343, with its market cap at R92.5bn.

"We welcome the receipt of the Section 11 consent from the Department of Mineral Resources, which is the last regulatory condition outstanding,” Sibanye CEO Neal Froneman said in a statement.

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