“We thank our shareholders for their support for this transaction which represents a unique and transformative opportunity to acquire world class, low-cost international PGM assets. Stillwater offers near-term organic production growth through the Blitz project, further enhancing Sibanye’s asset portfolio and will create in Sibanye, a globally competitive South African mining champion with a unique commodity mix” Neal Froneman, CEO of Sibanye
Strong transaction rationale
Enhance Sibanye’s asset base and create a globally competitive South African mining champion by:
- Adding two low-cost, low-risk, steady state producing PGM mines to its portfolio
- Expanding its portfolio with high-grade reserves that support over 25 years of mine life
- Providing near term, organic and low-cost growth through the Blitz Project
- Providing significant upside and growth potential through extensive regional resources
- Creating a mine-to-market PGM business with a metallurgical processing complex
- Significant PGM recycling business provides a steady margin and strategic insight into the market
- Further operational optimisation potential through transfer of “best practices”
Position Sibanye shareholders for potential valuation re-rating by:
- Being value accretive, per detailed management due diligence
- Balancing its portfolio operationally and geographically with the addition of a world class operation in an attractive mining jurisdiction
- Positioning its Platinum Division further down the global cost curve, with potential for further cost reductions
- Enhancing its cash flow generation to sustain its industry-leading dividend
- Improving its access to lower-cost global financing
A closer look
- : Competent Person’s Report on the Montana Platinum Group metal mineral assets of Sibanye Gold Limited
- : Sibanye-Stillwater launches US$450 million senior unsecured guaranteed convertible bonds
- : Sibanye-Stillwater prices US$450 million senior unsecured guaranteed convertible bonds
- : Circular to shareholders – Authority to issue shares in relation to the Convertible Bond (including Notice of General Meeting and Form of Proxy)
- : Full convertible bond results announcement (366k)
- : Sibanye-Stillwater concludes tender process to retire certain of its US$450 million convertible bonds (173k)
- : Convertible bond launch announcement (532k)
- Jul 04, 2017: IRS Form 8937 – Sibanye Gold Limited (956.85 KB)
- : Sibanye successfully completes an oversubscribed, two-tranche US$1.05 billion bond placement
- : Results of the Sibanye Rights Offer (235 KB)
- : IRS Form 8937 (455.1 KB)
- : Circular to qualifying shareholders of Sibanye (for ordinary shareholders – JSE traded) (3.04 MB)
- : FORM 6-K (for ADS holders – NYSE traded) (2.08 MB)
- : Supplement to Prospectus dated 17 April 2017 (for ADS holders – NYSE traded) (765.36 KB)
- : Final terms of a fully underwritten renounceable rights offer of approximately U.S.$1 billion
- : Declaration of information relating to a proposed renounceable Rights Offer of approximately U.S.$1 billion
- : Rights Offer guide for shareholders
- : Media release: Sibanye successfully concludes the acquisition of Stillwater
- : Media release: Sibanye and Stillwater deal – the largest PGM transaction globally in over a decade
- : Stillwater Transaction conditions fulfilment
- : Results of the Sibanye General Meeting regarding the acquisition of Stillwater
- : Filing of Form 6-K and Form F-3 with the U.S. Securities and Exchange Commission
- : Sibanye receives CFIUS approval and provides Stillwater Transaction financing update
- : Form 6-K Report of foreign private issuer pursuant to rule 13a-16 or 15d-16 under the securities exchange Act of 1934
- : Stillwater transaction circular and notice of general meeting (1.14 MB)
- : Posting of Stillwater transaction circular and Notice of General Meeting
Mining Company - : Sibanye receives CFIUS investigation notice for Proposed Acquisition of Stillwater
Mining Company - : Sibanye receives SARB approval for the proposed Stillwater acquisitions
- : Sibanye closes syndication of US$2,650,000,000 bridge facilities
- : Sibanye receives extension on 60 day rule to dispatch circular for general meeting
- : Sibanye operating and strategic update for the six months ended 31 December 2016
- : Proposed acquisition of Stillwater Mining Company antitrust condition satisfied
- : Media release: Sibanye announces proposed acquisition of Stillwater Mining Company (128kb)
- : SENS release: Proposed acquisition of Stillwater Mining Company (136kb)
- : Investor presentation: Acquisition of Stillwater Mining Company (2.19kb)
- : Factsheet: Proposed acquisition of Stillwater for $2.2bn in cash (878kb)
- : IRS Form 8937 – Sibanye Gold Limited (956.85 KB)
- : Results of the Sibanye Rights Offer (235 KB)
- : Circular to qualifying shareholders of Sibanye (for ordinary shareholders – JSE traded) (3.04 MB)
- : FORM 6-K (for ADS holders – NYSE traded) (2.08 MB)
- : Supplement to Prospectus dated 17 April 2017 (for ADS holders – NYSE traded) (765.36 KB)
- : Final terms of a fully underwritten renounceable rights offer of approximately U.S.$1 billion
- : Declaration of information relating to a proposed renounceable Rights Offer of approximately U.S.$1 billion
- : Rights Offer guide for shareholders
- Notification of early redemption of Sibanye-Stillwater’s 2022 bonds
- : Sibanye-Stillwater announces the early tender results of the buy back of a portion of its outstanding High Yield Bond Notes
- : Stillwater announces the launch of tender offers to reduce debt
- : Sibanye successfully completes an oversubscribed, two-tranche US$1.05 billion bond placement
- Redemption of the US$450,000,000 1.875 per cent convertible bonds due 2023 completed
- : Optional Redemption Notice to Convertible Bond Holders
- : Optional redemption notice issued to the holders of Sibanye Gold Limited’s USD450,000,000 1.875 per cent convertible bonds due 2023
- : Sibanye-Stillwater concludes tender process to retire certain of its US$450 million convertible bonds
- : Stillwater announces the launch of tender offers to reduce debt
- : Circular to shareholders – Authority to issue shares in relation to the Convertible Bond (including Notice of General Meeting and Form of Proxy)
- : Full convertible bond results announcement (366k)
- : Sibanye-Stillwater concludes tender process to retire certain of its US$450 million convertible bonds (173k)
- : Convertible bond launch announcement (532k)
