10:34am on Dec 12, 2019
Sibanye-Stillwater enters into a strategic acquisition agreement with Generation Mining to further its Marathon project.
The combination with Lonmin positions the enlarged Sibanye-Stillwater Group as a leading mine-to-market producer of PGMs in South Africa. The realisation of significant synergies between the operations, will deliver longer term benefits for all stakeholders of both companies is expected to result in this being a value accretive transaction for Sibanye-Stillwater shareholders.
With all the conditions precedent have been met, the DRDGOLD transaction was finalised on 31 July 2018. On the conclusion of the transaction, Sibanye-Stillwater has a 38.05% interest in DRDGOLD.
On 29 June 2018, Sibanye-Stillwater entered into an arrangement agreement with Regulus Resources Inc. and a newly formed subsidiary of Regulus, Aldebaran Resources Inc., creating a strategic partnership in order to unlock value at its Altar copper-gold project in San Juan Province, Argentina.
This transaction offered a unique and transformative opportunity to acquire world class, low-cost international PGM assets, further enhancing Sibanye’s asset portfolio and creating a globally competitive South African mining champion with a unique commodity mix.
Stillwater and East Boulder are shallow to intermediate level underground PGM mines located in the state of Montana, in the US.
At 30 September 2018, Marikana had mineral reserves of 31.2 Moz 4E PGM and mineral resources of 160.8 Moz 4E PGM.
DRDGOLD is a specialist in the recovery of metal from the retreatment of surface tailings.