Who is Sibanye’s new uranium partner?
Neo Energy Metals has acquired Beatrix 4 shaft, where it plans to mine uranium
In the final knockings of 2024 Sibanye-Stillwater sold its Beatrix 4 shaft to a little-known junior miner, UK-listed Neo Energy Metals. In terms of easing the group’s debt, it achieves little: Neo is to pay R500m to Sibanye-Stillwater, of which half is in shares that Sibanye-Stillwater will most likely keep. Compared with R17.5bn in net debt at Sibanye-Stillwater’s interim stage, it’s a trifle, but there’s major upside from having done so.
From Beatrix 4 Neo plans to start mining uranium, potentially in as little as 18 months. “There are very few projects with this timeline to production and a clear pathway, especially given the permits and infrastructure in place,” chair Jason Brewer tells the FM...
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