Sibanye-Stillwater nears New Century takeover
Stake in Australian miner built up to 90% threshold compelling a buyout
28 March 2023 - 20:36
Sibanye-Stillwater is on the cusp of taking full ownership of New Century Resources after incrementally building up its stake in the Australian miner to just over 90%, a key threshold that makes it mandatory to buy out the remaining shareholders, as stipulated by Australia’s regulatory requirements.
Sibanye under CEO Neal Froneman has built a reputation for turning around underperforming mining assets. It is currently the world’s largest producer of platinum group metals, having begun its journey in 2013 as a gold producer after it was unbundled from Gold Fields...
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