(Bloomberg) Sibanye Stillwater Ltd. said it’s agreed to buy nickel and copper mines in Brazil for $1 billion in cash, a deal that strengthens the South African mining company’s position in the battery metals sector.
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Sibanye shares rose 4.9% in Johannesburg, bringing this yearâs gain to 13%.
By Felix Njini, Bloomberg
15 Feb 2021 12:53
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Sibanye Stillwater may spend R3.9 billion ($270 million) on extending the life of the Marikana operations it acquired with the purchase of Lonmin Plc two years ago, after platinum-group metals rallied.
Chief Executive Officer Neal Froneman said last month that Sibanye plans further investments to boost PGMs output from South Africa. The CEO of the worldâs No. 1 platinum miner said the metal could climb by more than 80% over the next four to five years as the global economy recovers and supply dwindles.