Sibanye Focuses on $5 Billion Acquisition to Expand Gold Portfolio

SEATTLE (Scrap Monster): Sibanye-Stillwater targets future acquisitions worth almost $5 billion, as part of efforts to expand its gold portfolio. The expansion will be mainly focused on North America and is in line with the company’s strategy to position itself as a leading international precious metals mining company.

Describing the company’s focus on future M&A, Neal Froneman, chief executive officer noted that it plans to target North America-based gold producers with multiple assets. Sibanye may also add battery metals in future, he said. The company plans to resume dividend payments this year and trim its debt load as much as possible, so as to focus on M&A activity, Froneman added.

Also, the company announced plans to move its main stock exchange listing outside of South Africa, as it sees less mining prospects in that country, mainly due to non-investor-friendly policies by the government. Although Toronto, London and New York are still in the list of favourite target locations, the company prefers New York as a better point for listing.

Mr. Froneman was speaking on the sidelines of the BMO Global Metals & Mining Conference held in Florida.