JOHANNESBURG (miningweekly.com) – The Competition Commission has recommended to the Competition Tribunal that the acquisition of the mothballed Everest platinum mine, in Mpumalanga, by Northam Platinum subsidiary Micawber be approved, without conditions.
Micawber intended to acquire and take cession of the mining right associated with the mine and would, post-merger, have sole control over the operation and its mining right, which was currently owned by platinum miner Aquarius Platinum.
Northam announced in February that it had struck a deal to buy the idled platinum mine in a R450-million transaction that could potentially unlock roughly 60-million platinum group metal ounces that lay adjacent to its existing Booysendal North mine.