11:04am on Dec 12, 2019
The Boards of Sibanye-Stillwater and Lonmin are pleased to announce that they have reached agreement on the terms of a recommended all-share offer pursuant to which Sibanye-Stillwater and/or a wholly-owned subsidiary of Sibanye-Stillwater, will acquire the entire issued and to be issued ordinary share capital of Lonmin (the “Offer”). It is proposed that the Offer will be effected by means of a scheme of arrangement between Lonmin and the Lonmin Shareholders under Part 26 of the UK Companies Act. Under the terms of the Offer (as increased on 25 April 2019) each Lonmin Shareholder will be entitled to receive one New Sibanye-Stillwater Share for each Lonmin Share that they hold.
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At 30 September 2018, Marikana had mineral reserves of 31.2 Moz 4E PGM and mineral resources of 160.8 Moz 4E PGM.
Our South African operations mine from both the UG2 and the Merensky reefs of the Bushveld complex.
We are focused on creating value for all of our stakeholders including driving economic growth wherever we operate.