The Competition Tribunal has granted unconditional approval for a proposed merger between Glencore Operations South Africa (Pty) Ltd (GOSA) and Sibanye-Stillwater Ltd.
The transaction will see the two companies consolidate the management of their respective chrome recovery plants, which they currently operate independently.
Importantly, the ownership of the chrome recovery plants will remain unchanged following the transaction. The consolidation is focused solely on streamlining operational management.
GOSA is acting on behalf of the Glencore-Merafe Pooling and Sharing Venture, an unincorporated joint venture between Glencore and Merafe Resources. GOSA is controlled by Glencore Holdings South Africa (Pty) Ltd, which is ultimately owned by Glencore plc – a Jersey-incorporated company listed on the London Stock Exchange. The Glencore Group is a global producer and trader of natural resources and commodities, with South African operations that include coal production and chrome ore recovery.
Sibanye-Stillwater is a multinational mining and metals processing group listed on both the Johannesburg and New York Stock Exchanges. The company has a diverse portfolio of mining assets, with a primary focus on platinum group metals (PGMs) and gold. It also owns and operates several chrome recovery plants in South Africa.
The approval paves the way for greater operational synergy between the two industry players, without altering asset ownership structures.
