Sibanye Stillwater Calls For Merger of Top Gold Miners

SEATTLE (Scrap Monster): Leading South Africa-headquartered multinational precious metals mining company Sibanye Stillwater said that the country’s top miners should merge to create a formidable rival to the world’s existing largest producers including Newmont and Barrick Gold.

In a statement, Neal Froneman, Chief Executive said that it favours merger of the company with leading market players Gold Fields and AngloGold Ashanti. Both the above companies would fit well with the company’s earlier announced acquisition strategy and that such a merger would be in the country’s national interest. The consolidation will lead to the creation of a world champion gold business. The three high quality SA companies should come together, he added.

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It must be noted that Sibanye was formed in 2013 by spinning off Gold Field’s South African mines. Since then it has been expanding through major acquisitions. It saw rapid expansion of its platinum portfolio through acquisition of Aquarius Platinum and additional three platinum mines from Anglo American. With the acquisition of Stillwater Mining in 2017, it emerged as the world’s leading platinum miner. Alongside, it has also been expanding its gold and battery metals portfolio.