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.
Sibanye-Stillwater Mining News
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.
Sibanye said in a statement that it would fund the tender offer from existing cash resources.
Lonmin has been the biggest casualty in South Africa's platinum mining industry.
Wage negotiations in the gold sector are at a deadlock and the South Africa's National Union of Mineworkers (NUM) has declared a dispute, a move that is one step short of a strike.
Sibanye-Stillwater is due to report half-year results on August 23.
Hundreds of South African gold mine workers were rescued and over 100 treated for smoke inhalation after an underground fire.
The Canadian streaming firm has bought all of Stillwater's gold production for the life of the mine and, initially, also 4.5% of its total palladium output.
Producers have been giving above-inflation wage hikes for years, adding to the cost burden of an industry that has been battling in the face of depressed prices, labour unrest and soaring power bills.
Streaming deal involves production from Sibanye's Stillwater and East Boulder mines, located in Montana.
Sibanye Canada and Regulus’ newly formed Argentinean subsidiary Aldebaran Resources will create a strategic partnership to unlock value at the copper-gold project, located in the San Juan province.
US law firm Bernstein Liebhard said the suit would deal with "misleading statements" made by the precious metals producer, which has had 21 fatalities on its operations so far in 2018.
Sibanye has experienced an increase in safety incidents at its Southern Africa operations, with 20 employees losing their lives since February 2018.
Gwede Mantashe said that 20 out of 45 mining deaths reported since the start of 2018 have taken place at Sibanye-Stillwater’s mining sites.
Sibanye-Stillwater has recovered the body of the fifth and final missing mine worker after a three-day search.
Search for the fifth miner continues.
The Company was awarded the ‘Global Resources and Commodities M&A Deal of the Year' under the large-cap segment at the 10th Annual M&A Atlas Awards gala.
Sibanye has faced strong criticism from unions, local media and the government after the earthquake at its Driefontein gold mine that killed the miners.
The Association of Mineworkers and Construction Union (AMCU) said the company failed to take precautions two avoid injuries at its mines earlier this week.
The glacier inventory is now the most authoritative document indicating where the no-go zones are for mining.
Key to closing the deal is Lonmin maintaining its net cash position and achieving certain production targets.
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).
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.
According to the miner, five other rescued employees remain in a stable condition and are making good progress.
The deaths brings the number of people killed at the company's operations this year to at least 10.