We have tested the capabilities of a new self-consistent integral equation, closely connected with Verlet’s modified closure, for the study of fluid-fluid phase separation in symmetric non-additive hard-sphere mixtures. New expressions to evaluate the chemical potential of mixtures are presented and play a key role in the construction of the phase diagram. The new integral equation, which implements consistency between virial and fluctuation theorem routes to the isothermal compressibility, together with chemical potential and virial pressure consistency via the Gibbs-Duhem relation, yields a phase diagram which especially at high densities agrees remarkably well with the new semi-Grand Ensemble Monte Carlo simulation data also presented in this work. Deviations close to the critical point can be understood as a consequence of the inability to enforce virial-fluctuation consistency in the neighborhood of the spinodal decomposition curve.