Lonmin PLC (LONJ.J)
23 May 2018
Fri, May 18 2018
LONDON, May 18 Sibanye-Stillwater is confident its planned purchase of Lonmin will go ahead, but the struggling platinum producer must slow its cash burn, the South African firm's chief executive said.
LONDON Britain's Competition and Markets Authority said it will examine whether a takeover of Lonmin by South Africa's Sibanye-Stillwater would reduce competition, knocking shares in both mining firms.
* Shares in Lonmin, Sibanye fall (Adds Sibanye comment, updates shares)
May 15 Britain's Competition and Markets Authority (CMA) said on Tuesday it would examine whether a takeover by South Africa's Sibanye-Stillwater of miner Lonmin, would lessen competition.
* GRAPHIC: https://reut.rs/2KmVuY7 (Adds detail, quotes, analysts, shares, Johannesburg dateline)
LONDON, May 14 Lonmin said on Monday it narrowed its first-half operating loss and lowered its spending target for the year as the platinum miner prepared for a merger with Sibanye-Stillwater,
* Sibanye says results don't affect its takeover plan (Adds detail)
LONDON Plans to cut around 13,000 jobs are likely to be the biggest obstacle to miner Sibanye-Stillwater winning South African regulatory approval for its proposed takeover of troubled rival Lonmin , the CEO of Lonmin told Reuters.
LONDON/JOHANNESBURG South Africa's Sibanye-Stillwater agreed to buy troubled miner Lonmin for about 285 million pounds ($382 million) to create the world's No. 2 platinum producer in a bid to ride out depressed prices for the metal.
LONDON Lonmin's main labor union in South Africa said on Thursday it would consider mass action to oppose the takeover of the struggling platinum miner by Sibanye-Stillwater , which Sibanye has already said will lead to 12,600 job cuts.
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