DRDGold acquisition tightens Sibanye’s grip on gold industry
Sibanye-Stillwater shareholding of SA’s leading mine dumps reprocessing company ‘up 147%’
Sibanye-Stillwater tightened its grip on SA’s gold industry, taking control of DRDGold, the country’s largest tailings recycling company, at a deep discount.
Sibanye, which has tied up a vast swathe of SA’s platinum group metals industry to become the world’s second-largest producer of platinum, palladium and rhodium behind Russia’s Norilsk Nickel in the space of four years, triggered an option to increase its stake in DRDGold to 50.1% from 38% for R1.1bn. These metals are used to make autocatalysts.