Tribunal prohibits Sasol’s sale of sodium cyanide business to Draslovka
The Competition Tribunal has issued an order prohibiting the intermediate merger involving the sale of Sasol South Africa’s sodium cyanide business to a Czech Republic-based producer of sodium cyanide, Draslovka Holding, through its local subsidiary, Draslovka South Africa.
Sodium cyanide, a chemical compound commonly used in the extraction of precious metals like gold and silver, is an important input for the gold mining firms operating in South Africa. Sasol has a monopoly position in the production of liquid cyanide in South Africa and the gold mining sector is dependent on Sasol for the supply of liquid cyanide, according to the Competition Commission.
In terms of the proposed transaction, Sasol would have supplied certain key inputs required in the production of sodium cyanide to Draslovka.
The commission had earlier prohibited the transaction. Gold mining firms Sibanye-Stillwater and its subsidiary DRDGold Limited, Pan African Resources and Harmony Gold Mining Company had been granted leave to participate in the tribunal proceedings, following their applications for intervention. Ultimately, Sibanye and DRDGold intervened in the matter and the tribunal called on Pan African and Harmony to make submissions and answer questions.
The tribunal heard oral evidence from the merger parties, the commission and the intervenors, including factual and economic expert evidence during the merger hearing held in April and May. Thereafter, the parties made further written submissions to the tribunal, the last of which was received on October 2.
The tribunal intends to make the reasons for its decision public at a later stage.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...
VISIT SHOWROOM
Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
