Aquarius Platinum Ltd v Ridge Mining PLC (39/LM/Apr09) [2009] ZACT 48 (17 July 2009)

Aquarius Platinum Ltd v Ridge Mining PLC (39/LM/Apr09) [2009] ZACT 48 (17 July 2009)

The Tribunal found that the combined market shares of Aquarius Platinum Ltd and Ridge Mining PLC in the production of platinum group metals and related minerals were low and did not raise competition concerns. The relevant market was defined as the international market for PGMs and associated minerals. The merging parties would continue to face competition from other significant market participants such as AngoPlats, Implats, Northam, and Lonmin. No public interest issues were identified. Accordingly, the Tribunal concluded that the merger was unlikely to substantially prevent or lessen competition and unconditionally approved the transaction.

Citation
[2009] ZACT 48
Parties
Applicant: Aquarius Platinum Ltd; Respondent: Ridge Mining PLC
Court
Competition Tribunal
Jurisdiction
South Africa
Judgment Date
17 July 2009
Case Number
39/LM/Apr09
Procedural Posture
Merger Clearance / Merger Approval
Outcome
Merger unconditionally approved.
Judges
D Lewis, M Mokuena, N Manoim
Legal Topics
Merger Clearance, Market Definition, Public Interest, Market Share Analysis
Competition Law Commercial and Corporate Merger Clearance Market Definition Public Interest Market Share Analysis

Case Brief

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Parties

Aquarius Platinum Ltd

Applicant

Ridge Mining PLC

Respondent

Procedural Posture

Merger Clearance / Merger Approval

Legal Issues

  1. 1 Whether the proposed merger between Aquarius Platinum Ltd and Ridge Mining PLC is likely to substantially prevent or lessen competition in the relevant markets.
  2. 2 Whether there are any public interest concerns arising from the transaction.

Ratio Decidendi

The Tribunal found that the combined market shares of Aquarius Platinum Ltd and Ridge Mining PLC in the production of platinum group metals and related minerals were low and did not raise competition concerns. The relevant market was defined as the international market for PGMs and associated minerals. The merging parties would continue to face competition from other significant market participants such as AngoPlats, Implats, Northam, and Lonmin. No public interest issues were identified. Accordingly, the Tribunal concluded that the merger was unlikely to substantially prevent or lessen competition and unconditionally approved the transaction.

Court Disposition

Merger unconditionally approved.

Orders

  • The merger between Aquarius Platinum Ltd and Ridge Mining PLC is unconditionally approved.