Sibanye advances uranium strategy with sale of Beatrix 4 shaft
The R500m deal allows the miner to retain exposure to the Beisa uranium project
09 December 2024 - 22:08
SA mining house Sibanye-Stillwater said on Monday it had agreed to sell its Beatrix 4 shaft to London Stock Exchange-listed uranium exploration and development group Neo Energy Metals, in a R500m deal that allows the group to free up capital while retaining its exposure to the operation’s Beisa uranium project.
The deal will see Sibanye handing over Beatrix 4, which includes Beisa, in exchange for R250m in cash and R250m in newly issued Neo Energy shares. On signing, this will equate to Sibanye owning a 40% stake in the company. ..
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