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Tribunal publishes reasons for granting Northam leave to participate in merger proceedings involving Implats and RBPlat
The Tribunal has published the reasons for its order granting Northam Platinum Holdings Limited (“Northam”) leave to participate in the large merger proceedings before the Tribunal involving Impala Platinum Holdings Limited ("Implats") and Royal Bafokeng Platinum Limited ("RBPlat"). Both Implats and RBPlat had opposed Northam’s intervention application which was heard by the Tribunal in June.
In terms of the Tribunal’s order, Northam’s participation in the merger proceedings will be limited to making written and oral submissions on the following potential theories of harm:
- the vertical effects of the proposed merger, including the effect on competition in the local upstream market for the production and sale of primary concentrate; and
- the extent to which the merger effects could be prejudicial to junior miners in South Africa.
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