Court date set for union appeal against Sibanye, Lonmin merger

Court date set for union appeal against Sibanye, Lonmin merger

Mining

Investec bumps Sibanye shareholding above 5%

Sibanye-Stillwater appoints new non-executive director

Sibanye braces for second AMCU strike

Sibanye and Lonmin merger heads to Competitions Appeals Court

 

The Competition Appeal Court of South Africa will hear an appeal against a merger between mining companies Lonmin and Sibanye-Stillwater on April 2.

Last year the Competition Tribunal approved a merger between the mining companies subject to certain conditions related to Social Labour Plans and retrenchments. 

Lonmin CEO Ben Magara had previously said that without the merger, Lonmin would have to retrench about 12 600 workers between 2018 and 2020. 

Subscribe to Fin24’s newsletter here 

The biggest union at Lonmin, the Association of Mineworkers and Construction Union (Amcu), is against the merger as it fears job losses.

AMCU filed an appeal against the merger with the competition appeal court. Both Sibanye-Stillwater and Lonmin “remain fully committed” to the merger, Sibanye said in its notice.

Micon

Leave a Reply

Your email address will not be published. Required fields are marked *