Sibanye-Stillwater to acquire gold and platinum streams from Franco-Nevada for $500m.

Sibanye-Stillwater, a multinational mining and metals processing group, agreed to acquire gold and platinum streams from Franco-Nevada, a gold-focused royalty and streaming company, for $500m. “We are pleased to have successfully concluded this value accretive transaction in partnership with Franco-Nevada. We have raised US$500m (R8.8bn) of non-debt capital by primarily streaming gold, a minor component of the basket of metals produced from our SA PGM operations and a marginal and finite amount of platinum, which retains significant leverage to higher PGM prices, which we anticipate. The Group’s financial position has been reinforced at a competitive cost of capital. The financial support from Franco-Nevada further validates the quality and long-term viability of our PGM assets, which continue to generate superior shared value for our stakeholders and we expect will continue for decades in the future. We welcome this opportunity to continue to build our relationship with Franco-Nevada,” Neal Froneman, Sibanye-Stillwater CEO.