Sibanye-Stillwater (JSE: SSW, NYSE: SBSW) has signed a transformative purchase agreement to acquire Metallix Refining for a cash consideration of US$82 million, representing a total enterprise value of US$105 million.
Metallix, a seasoned player in the recycled precious metals space, processed approximately 4.2 million pounds of waste materials in 2024, yielding an impressive output: 21,000 oz of gold, 874,000 oz of silver, and 263,000 lbs of copper, among others.
With two advanced facilities in Greenville, North Carolina, and operations stretching from the US to the UK and South Korea, Metallix’s international footprint instantly amplifies Sibanye-Stillwater’s global recycling capabilities.
“We are excited to be adding Metallix to our existing recycling footprint the scale, technology and know-how adds positively to our existing recycling operations and advances our urban mining strategy,” said CEO Neal Froneman.
This acquisition complements Sibanye-Stillwater’s US operations in Montana and Pennsylvania, increasing throughput capacity and enriching proprietary technology capabilities.
Analysts commend the move as a “strategic leap into circular economy dominance,” citing its immediate cash flow uplift and strong synergies with existing assets. By securing a 60-year-old enterprise with steady earnings, Sibanye-Stillwater signals confidence in urban mining as a sustainable growth pillar.
Local & Global Impact:
- South Africa: Although not a categorised transaction under JSE Listings Requirements, this voluntary disclosure sharpens Sibanye-Stillwater’s reputation as a global recycler. Local investors may see improved sentiment around ESG leadership and diversification, especially as the group shifts toward recycling and tailings retreatment.
- Global Market: The deal reverberates across metal and sustainability-focused markets. Enhanced logistics and material sourcing from multiple regions could rebalance supply dynamics, potentially easing pressure on primary mining and reducing geopolitical dependencies in metal sourcing.
If this marks the beginning of a stronger circular economy shift in mining, Sibanye-Stillwater might just be positioning itself as the industry’s green titan.
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