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Reuters reported that Sibanye Gold (NYSE:SBGL) has reiterated its commitment to acquisitions of platinum assets in South Africa, despite lower platinum and palladium prices this year.
Reuters reported that Sibanye Gold (NYSE:SBGL) has reiterated its commitment to acquisitions of platinum assets in South Africa, despite lower platinum and palladium prices this year.
As quoted in the publication:
The bullion producer said it expected a decision from the South African Competition Commission in March 2016 while shareholders are set to vote in January on the acquisition of Aquarius Platinum and Anglo American Platinum’s Rustenburg mine.
Platinum prices sank 16 percent in November to near seven-year lows on prospects of a U.S interest rate hike and ongoing concerns of oversupply. Despite this Sibanye said it would go ahead with the transactions.