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South African mining union files appeal against Sibanye-Lonmin merger

The Association of Mineworkers and Construction Union lodged an appeal against the South African Competition Tribunal's decision to approve Sibanye Gold Ltd.'s takeover of Lonmin PLC.

Sibanye and Lonmin intend to request an urgent hearing date from the Competition Appeal Court regarding the appeal, according to a Dec. 19 release.

The companies also said they remain committed to the deal that will see Sibanye wholly acquire Lonmin in an all-share offer that would value Lonmin at about £285 million.

The tribunal greenlighted the transaction in November, subject to Lonmin imposing a six-month moratorium on retrenchments. The union had called for government intervention over the job cuts resulting from the merger.