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Sibanye clears state barrier to buy Amplats mines

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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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