Sigh of relief as new platinum player rides into town

Business

Sigh of relief as new platinum player rides into town

But there's more than wage talks and consolidation for Sibanye to consider after Lonmin takeover

Allan Seccombe

A lot went wrong at Lonmin, the world’s third-largest platinum miner, until Monday when it was fully taken over by Sibanye-Stillwater.

The near-unanimous vote in favour of the takeover by those invested in Lonmin attending a special meeting to decide on the transaction was the clearest indication that the company had hit the wall.

There were no further options open to it barring splitting the company into its constituent parts, with few logical potential owners outside Sibanye as the owners of the assets...

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