Froneman slams New Century management as Sibanye circles Aussie company
Australian group’s board recommends shareholders take no action in response to off-market takeover offer from Sibanye
21 February 2023 - 12:00
UPDATED 22 February 2023 - 07:21
Mining giant Sibanye-Stillwater has made an unsolicited offer to buy the 80% of a retreatment mine, New Century Resources, it does not own in Australia, saying it is unhappy with the company’s strategic direction.
The miner now has a 19.9% stake in New Century, making it the largest shareholder of the firm. It will pay up to $83m (R1.5bn) if the deal goes ahead. ..
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