Sibanye Gold announces approval of mine operations

Sibanye Gold announces approval of mine operations

Sibayne Gold (NYSE: SBGL) annoucned it has received the approval for its Rustenburg Platinum mine projects acquisition in South Africa yesterday.

The transaction will allow Sibanye to acquire the Bathopele, Siphumelele and Thembelani mines, in addition to the combined Khomani and Khuseleka mining operations, two concentration plants, an on-site chrome recovery plant and the Western Limb Tailings Retreatment plant.

The agreement is still subject to the granting of approval from section 11 of the MPRDA for the mining right and prospecting right sale to Sibanye.

The South African Competition Commission and the Commission Tribunal granted the approval of the Aquarius Platinum (LSE:AQP) purchase, which will have Sibanye take shares in Aquarius for the cash payment of US$0.195 for each share.

Sibanye and Aquarius are currently affirming the conditions attainment date.

Neal Froneman, Sibanye’s CEO said over any commodity, there is no limit to expanding the company’s portfolio.

@RGNOnline