Sibanye-Stillwater, the mining group led by South African businessman Neal Froneman, has completed its acquisition of U.S.-based precious metals recycler Metallix Refining for 129 million. This strengthens Sibanyes push into sustainable metal recovery and adds to its efforts to expand beyond traditional mining.
The deal , first announced in July , closed on Sept. 4 through Sibanyes U.S. unit, Stillwater Inc., after meeting all regulatory and contractual conditions. The company paid an initial equity cash consideration of 78 million, with the final enterprise value reaching 129 million on a debt-free basis. Sibanye said the adjustment from the previously stated 82 million figure reflected changes in working capital at the time of closing.
Bolstering U.S. assets, advancing circular economy ambitions