Sibanye-Stillwater extends US recycling with $82m Metallix deal

SIBANYE-Stillwater announced on Monday it agreed to buy US-based precious metals recycling business Metallix Refining for $82m (R1.5bn) in cash.Metallix Refining, a profitable company in business for 60 years, would complement Sibanye-Stillwater’s Reldan which it acquired last year for $155.9m.Neal Froneman, CEO of Sibanye-Stillwater said Metallix would add “scale, technology and know-how” to his company and bring “value uplift through the large number of synergies with our existing recycling operations”.Metallix produced gold and a suite of platinum group metals including 48,000 ounces of palladium and platinum each as well as 874,000 ounces of silver and 263,000 pounds of copper in its 2024 financial year ended December 31.The company processes the metals from industrial waste streams at its two recycling operations in Greenville, North Carolina which it then supplies to customers from the UK and South Africa as well as in the US.Reldan produced 145,000 ounces of gold in its 2022 financial year as well as 22,000 oz of palladium, 25,000 oz of platinum and 3.4 million pounds of copper. Sibanye-Stillwater also has recycling capability at its Montana-based Stillwater mine.Commenting on rationale for the deal, Sibanye-Stillwater said acquiring Metallix extended its global recyclng reach and logistics.The deal is expected to close in the third quarter.The post Sibanye-Stillwater extends US recycling with $82m Metallix deal appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com