Sibanye-Stillwater has signed an agreement to acquire Metallix Refining, a US-based metals recycler, for a cash consideration of $82m (R1.45bn), with an enterprise value of $105m.
This acquisition is set to bolster Sibanye-Stillwater’s global recycling footprint and enhance its processing capacity, technology and expertise.
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Metallix, with a history spanning more than six decades, specialises in producing recycled precious metals from industrial waste streams.
Its operations in Greenville, North Carolina, have processed approximately 4.2 million pounds of precious metal-bearing waste materials, resulting in the production of significant quantities of copper, gold, iridium, palladium, platinum, rhodium and silver in the 12 months leading up to 31 December 2024.
The integration of Metallix’s operations with Sibanye-Stillwater’s existing recycling facilities in Montana and Pennsylvania is expected to strengthen the latter’s logistical capabilities.
This strategic move is expected to enhance the group’s ability to source materials from diverse regions and offer comprehensive solutions to its customers.
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By GlobalDataSibanye-Stillwater CEO Neal Froneman said: “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.
“We expect significant value uplift through the large number of synergies with our existing recycling operations.”
According to the latest audited financial data, Metallix has demonstrated positive earnings and cash flow, indicating that its addition to the Sibanye-Stillwater Group will have an immediate beneficial impact.
The acquisition is due to be finalised in the third quarter of 2025, pending the necessary regulatory approvals.
In May 2025, Sibanye-Stillwater reported a 17% increase in the projected cost of its Keliber lithium project in Finland, now estimated at €783m ($880m), up from the previous €667m.
