A R900m deal to take an asset off the hands of mining firm Sibanye-Stillwater, which was unlikely to develop it any time soon, and one that will change the fortunes of tailings recycling specialist DRDGold, is finalised, leaving two satisfied companies. Sibanye’s consolidation of the South African mining sector continued unabated as it completed swapping tailings, a gold processing plant and an important tailings storage facility for shares in DRDGold, giving it a 38% stake in the smaller company and lining itself up for potential control.
Sibanye is by far the most active mining company in the mergers and acquisitions space in SA, mopping up a number of companies in gold and platinum group metals (PGMs), and it has grown into a major force in the latter sector. The company will cement its position as one of the world’s largest sources of PGMs later in 2018 if its all-share takeover bid for world number three platinum miner Lonmin and its South African mines, concentrators, sm...
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