Sibanye says ConCourt dismisses GLC's applications
JSE- and NYSE-listed Sibanye-Stillwater on Thursday said the Constitutional Court of South Africa (ConCourt) had dismissed the Greater Lonmin Community's (GLC's) applications to have Sibanye's acquisition of Lonmin set aside.
"The ConCourt dismissed, without costs, the application for leave to appeal as it bore no reasonable prospects of success, and dismissed the application for direct access as the GLC had not made a case that was sufficiently in the interests of justice for it to be heard directly by the ConCourt," the precious metals miner said.
It added that the ConCourt judgment meant that the ruling by the Competition Appeal Court remained in force and that all legal proceedings had now been concluded.
“We are extremely pleased with the judgment made by the ConCourt today, which supports our view that the GLC’s claims had been properly dealt with before by the Competition Appeal Court and the Competition Tribunal and were frivolous.
"It is unfortunate that certain stakeholders seem unable to recognise the plight that faced the Lonmin operations and, instead of engaging with us, continue to pursue spurious and expensive legal alternatives. We are sensitive to the needs of our communities and remain committed to ongoing engagement and to delivering on Lonmin’s social and labour plan commitments as recorded in the conditions handed down by the Competition Tribunal and reiterated by the Competition Appeal Court,” Sibanye CEO Neal Froneman commented.
The GLC last month filed the application for leave to appeal, claiming Sibanye's buyout of Lonmin had been approved without the Department of Mineral Resources and Energy (DMRE) having approved a social and labour plan for the merged entity.
Sibanye in June concluded the buyout of Lonmin.
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