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Sibanye in R4bn cash bid for Aquarius Platinum

Posted by ipso facto @ 10:54 on October 6, 2015  

JOHANNESBURG (miningweekly.com) – Precious metals mining company Sibanye on Tuesday offered R4-billion cash for the entire issued share capital of Aquarius Platinum – a bid its board has unanimously endorsed. JSE-listed Sibanye expects to be able to unlock synergies of R800-million a year both on a standalone basis and particularly when combined with the neighbouring Rustenburg platinum group metals (PGMs) operations being acquired from Anglo American Platinum. In South Africa, the Sydney-, London- and Johannesburg-listed Aquarius runs the Kroondal platinum mine and the Platinum Mile tailings retreatment operation, both near Rustenburg, and has a joint venture with Impala Platinum at Mimosa in Zimbabwe.



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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.