Competition Tribunal approves Aquarius Platinum merger

The Competition Tribunal on Wednesday said it had approved the merger of Aquarius Platinum, Rustenburg Platinum Mines and First Platinum.

The proposed transaction consists of two phases.

In the first phase Aquarius Platinum intends to acquire the business of Firstplats, comprising mining rights, properties and related fixed and movable mining assets of certain portions of the Brakspruit and Spruitfontein farms in the Bushveld Igneous complex in North West province.

The second phase will see Aquarius Platinum transfer the firm to the pooling and sharing venture, which exists between it and Rustenburg Platinum Mines in respect of Marikana Mine, which is jointly controlled by Aquarius Platinum and Rustenburg Platinum Mines.

On completion of the transaction Aquarius Platinum and Rustenburg Platinum Mines will jointly control the assets that constitute the transferred firm.


At 14.23pm shares in Aquarius Platinum were unchanged from R32 on the JSE.

The stock has gained 14,53% or R4,06 this month to date. — I-Net Bridge

Subscribe to the M&G

These are unprecedented times, and the role of media to tell and record the story of South Africa as it develops is more important than ever.

The Mail & Guardian is a proud news publisher with roots stretching back 35 years, and we’ve survived right from day one thanks to the support of readers who value fiercely independent journalism that is beholden to no-one. To help us continue for another 35 future years with the same proud values, please consider taking out a subscription.

Related stories

Advertising

Subscribers only

How smuggled gold destined for Dubai or Singapore has links...

Three Malagasy citizens were apprehended at OR Tambo International airport, but now the trail is found to connect to France and Mali

How lottery execs received dubious payments through a private company

The National Lottery Commission is being investigated by the SIU for alleged corruption and maladministration, including suspicious payments made to senior NLC employees between 2016 and 2017

More top stories

Business closures increase in December, according to Stats SA data

Despite the government’s efforts to lessen the economic shock of the pandemic and the lockdown, businesses are struggling to keep their doors open

Sounding the alarm on shack fire losses

A tech solution to fires in informal settlements comes with insurance that pays out the victims of these blazes

Debunk the lies of anti-vaxxers

There’s more than enough to be suspicious about with Big Pharma, but know your enemy

From the land of the free to the country of...

Democracies are fragile entities that are often captured and exploited by populists, to the detriment of all concerned
Advertising

press releases

Loading latest Press Releases…