Northam Platinum has warned the Competition Tribunal that Impala Platinum’s acquisition of Royal Bafokeng Platinum could adversely affect junior miners. Impala Platinum has meanwhile told the watchdog that Northam has no legitimate interest in the matter and has ulterior motives.
The arguments were aired on Wednesday during a hearing of Northam’s application to intervene in Competition Tribunal proceedings on whether to approve Implats’ bid to acquire a significant stake in RBPlats. Implats has for years been keen on wholly acquiring RBPlat, but just as a deal appeared imminent late last year, Northam Platinum swooped in to acquire a 32% shareholding from RBPlat's parent company, Royal Bafokeng Holdings, at a premium price. Northam has since grown that stake to 34.95%.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SARS was right to seize 19 containers of 'unrealistically' cheap Chinese clothes, SCA rules | Fin24The Supreme Court of Appeal in Bloemfontein has upheld an appeal by the SA Revenue Service justifying its decision to seize 19 containers of cheap clothes from China. | Fin24 Fin24 SARS should not wait for another court challenge instead should destroy all those products in those containers.
Source: News24 - 🏆 4. / 80 Read more »
'Don't vroom past me to Godongwana,' Mbalula tells City of Cape Town | Fin24Transport Minister Fikile Mbalula denied trying to obstruct the City of Cape Town from managing its passenger rail network - but emphasised that national government must be consulted. | KhulekaniMag Fin24 'Transport Minister Fikile Mbalula denied trying to obstruct the City of Cape' In word and deed he is doing the opposite. KhulekaniMag Fin24 Because they want tender money? Last time we allowed you guys to manage things we had a 7billion nightmare due to maladministration , corruption and incompetence. How bout you worry about you first before you worry about areas that are doing fine without you. KhulekaniMag Fin24 Crayon eater
Source: News24 - 🏆 4. / 80 Read more »
Nersa greenlights 16 new renewable energy projects within 19 days | Fin24The National Energy Regulator of South Africa has registered 16 more renewable energy generation projects, benefiting from the 100 MW licence exemptions. Fin24 luwizzer Fin24 Now us our time ESKOM will be the official opposition energy supplier. 😂 Fin24 You sure about that?
Source: Fin24 - 🏆 21. / 63 Read more »
Government demands may have toppled Hulamin takeover deal | Fin24The deal would have been a big win for South Africa, but the interested buyers eventually had to walk away.
Source: Fin24 - 🏆 21. / 63 Read more »
Eskom warns power system is 'very constrained', risk of load shedding in coming weeks | Fin24Eskom warned on Tuesday afternoon of a 'very constrained' power system and said it might have to implement load shedding at short notice. | Fin24
Source: News24 - 🏆 4. / 80 Read more »
Facing 'severe' energy crisis, Pakistan cuts its work week short | Fin24Pakistan is facing a severe energy crisis, and is cutting its working week from six days to five in a bid to save energy and fuel.
Source: Fin24 - 🏆 21. / 63 Read more »