Lonmin Mining News

South African court clears way for Sibanye’s acquisition of Lonmin

The transaction would create the world’s No.2 platinum producer as Lonmin is the world’s third-largest while Sibanye-Stillwater is the fourth.

Platinum firms gear up for tough South Africa wage talks

A rise in producer profits is likely to provoke higher wage demands from labour unions including the militant AMCU.

Lonmin likely to cut fewer jobs due to revenue boost – CEO

Higher prices for a basket of Lonmin's metals and a weaker South African rand helped the London-listed miner to an annual pre-tax profit in 2018, its first since 2013.

South Africa's competition court to rule on Sibanye and Lonmin merger

The Association of Mineworkers and Construction Union (AMCU) lodged its appeal in protest against job cuts related to the deal.

Lonmin says delays in Sibanye-Stillwater deal to hurt sales

The London-based company, which operates in South Africa, said total platinum production tumbled 10.3% to 276,020 ounces for the six months ended March 31.

Sibanye agrees to raise offer for Lonmin on metal price gain

The increase should help bolster support from Lonmin investors, who still need to vote on the takeover.

South Africa's AMCU union says it hasn't broken labour laws

South Africa's labour registrar said in the government gazette this week that he intended to cancel the registration of AMCU.

Africa's Sibanye-Stillwater lowers valuation for miner Lonmin

Sibanye-Stillwater has revised its offer for Lonmin, with new terms that gave a valuation for the struggling platinum miner that was about $77m less than originally proposed.

Lonmin warns on cash woes, urges shareholders to back Sibanye takeover

Lonmin Plc has been cutting spending to conserve cash and retain a positive balance sheet required by conditions of South Africa-based Sibanye's offer.

South African court orders miners' union to suspend planned industry-wide strike

The Association of Mineworkers and Construction Union (AMCU) has been on strike at Sibanye-Stillwater's gold operations since mid-November.

South Africa mining strike to spread to at least 15 firms — Minerals Council

Firms to be affected include AngloGold Ashanti, Harmony Gold, Anglo American Platinum and Lonmin.

Lonmin's biggest mining union tries to block Sibanye deal

The all-share deal is likely to lead to more than 10,000 layoffs.

Lonmin turns first profit in four years ahead of Sibanye takeover

Lonmin also said on Thursday it expects Sibanye's deal to close early next year, but cautioned that some uncertainty still exists over its completion.

S.African watchdog orders six-month hold on job cuts in Sibanye-Lonmin deal

South Africa's Sibanye has proposed to buy Lonmin for about 285 million pounds ($365 million) to create the world's No. 2 platinum producer.

S. Africa competition tribunal OKs Sibanye acquisition of Lonmin

Deal would create the world’s No.2 platinum producer.

Lonmin workers ask South African tribunal to stop merger with Sibanye

If approved, merger would create the world’s No.2 platinum producer as Lonmin is the world’s third-largest while Sibanye-Stillwater is the fourth.

Lonmin in $200m loan deal with state-backed Chinese company

Under the deal, Lonmin will repay most of the loan by delivering platinum and palladium over a three year period to a subsidiary of Jiangxi Copper, China’s largest copper producer.

Sibanye -Stillwater, Lonmin still committed to merger after competition watchdog decision

Sibanye and Lonmin said in a joint statement they remained fully committed to the deal, which is expected to close by the end of the year.

South Africa imposes tough conditions on Sibanye-Lonmin deal

The transaction would create the world’s No.2 platinum producer as Lonmin is the world’s third-largest while Sibanye-Stillwater is the fourth.

South Africa's Sibanye launches $400m bond buyback

Sibanye said in a statement that it would fund the tender offer from existing cash resources.

Lonmin's largest shareholder backs takeover by Sibanye-Stillwater

Lonmin has been the biggest casualty in South Africa's platinum mining industry.

Top Sibanye holders are said to indicate support for Lonmin deal

The deal requires more than 50 percent approval in a vote by Sibanye investors, in addition to Lonmin’s shareholders’ approval.

Stellar rhodium price rally could be coming to an end

Price for scarce precious metal rhodium is up 270% in two years.

Lonmin tanks as UK competition watchdog looks into Sibanye takeover

By mid-morning, Lonmin shares had lost 5.6% of their value in London, while Sibanye’s were down 4.9% in Johannesburg, even though the companies announced they had received the approval of the South African Reserve Bank (SARB).

Lonmin cuts H1 loss and trims spending ahead of Sibanye merger

The proposed deal with Sibanye is conditional upon Lonmin retaining a positive cash balance by the time it is to close in the second half of the year.