JSE/NYSE-listed Sibanye-Stillwater has announced that the Constitutional Court of South Africa has delivered judgment on the applications for leave to appeal and direct access by the Greater Lonmin Community, in which the GLC sought to essentially set aside the acquisition of Lonmin by Sibanye-Stillwater.
The Con Court 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 Con Court.
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The effect of the Con Court order is that the judgment of the Competition Appeal Court remains in force.
This now brings an end to all proceedings.
Sibanye-Stillwater CEO, Neal Froneman says:
“We are extremely pleased with the judgment made by the Con Court 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.”