Sibanye-Stillwater to acquire a 50% stake in Rustenburg Platinum Mines from Anglo American Platinum.

Sibanye-Stillwater, a precious metals mining company, agreed to acquire a 50% stake in Rustenburg Platinum Mines, a platinum mining company, from Anglo American Platinum, a primary producer of platinum. Financial terms are not disclosed. “We welcome this mutually beneficial transaction which, through the full consolidation of these operations under a single owner will unlock significant value for all stakeholders by extending the operating life of the Kroondal operation, which as a standalone operation, was constrained by the existing PSA agreement. We are unlocking the true potential of these adjacent mines by utilising the mechanised and low cost Kroondal operation to mine across the boundary with the Rustenburg operation. This will accelerate the extraction of more remote parts of the Rustenburg operation orebody, sustain employment for more than 2,500 people until 2029 and ensure the creation of significant value for all stakeholders in the region,” Neal Froneman, Sibanye-Stillwater CEO.