JOHANNESBURG (miningweekly.com) – South Africa’s Competition Tribunal has unconditionally approved the merger between platinum miners Aquarius Platinum and Ridge Mining.

Aquarius would now acquire the entire issued share capital of Ridge, in exchange for shares. The exchange ratio of the proposed deal with Ridge would see one Aquarius share exchanged for every 2,75 Ridge shares.

On completion of the transaction Aquarius will have sole control over Ridge.

Aquarius CEO Stuart Murray said in February, when the company announced that it would bid for Ridge, that the junior miner would diversify its portfolio, increase its resource base and add new production ounces and longevity to its production profile.

“As Ridge's flagship Blue Ridge mine enters production, we believe that now is the right time to seek a strategic partnership,” Murray said at the time.

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