Sibanye Gold will pay $2.2bn or about R30bn to buy American platinum and palladium producer Stillwater Mining Company, cementing its role as a major player in the platinum industry and giving it a much-wanted processing plant to deliver finished metal. Sibanye has bought the whole of Aquarius Platinum and the Rustenburg mines that belonged to Anglo American Platinum, consolidating a chunk of the Western Limb of the Bushveld Igneous Complex, which hosts the world’s largest known platinum group metal deposits. The two acquisitions did not come with any refining capacity and both sets of assets could only get metal up to a concentrate level, which had to be toll treated or sold to a third party, in this case Anglo American Platinum. In its third PGM transaction, which gives it geographical diversity away from the risky environments in SA and Zimbabwe, Sibanye said it had reached a "definitive agreement" to buy New York Stock Exchange-listed Stillwater for $18 per share, which it said w...
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