• JSE: SGL

    R29.05 +0.28%

  • NYSE: SBGL

    US$7.83 +0.03%

  • GOLD: US$/oz

    US$1,473 +0.04%

  • GOLD: ZAR/kg

    R701,846 +0.43%

  • PLATINUM: US$/oz

    US$911 -0.05%

  • PALLADIUM: US$/oz

    US$1,716-0.75%

  • ZAR: US$

    R14.82 +0.39%

  • Last updated

    2:24pm on Nov 20, 2019

“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

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