Sibanye-Stillwater has inked a $1bn (R14.70bn) deal to acquire two Brazilian mines, its fourth and largest investment yet in its push to build a portfolio of metals critical to electric vehicles.

Sibanye had issued a cautionary on Monday amid reports that it would spend this amount to acquire Santa Rita, one of the world’s largest open-pit nickel-cobalt sulphide mines, and Serrote, which has just completed the construction of a copper-gold project...

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