S outh African gold mining company S ibanye-S tillwater has signed a share purchase agreement (S PA) with French mining and metallurgy company Eramet to buy the S andouville nickel hydrometallurgical processing facility.
S ibanye said in a statement: “The signature of the S PA follows the successful completion of the information consultation process with the employee representative bodies of Eramet S andouville and Eramet , who have rendered a favourable opinion of the transaction.”
The deal has secured the approval of the French Foreign Investment Control Office and the S outh African Reserve Bank.
This will include clearance for the transfer of the permits and carve out arrangements. These are anticipated to be finalised by early next year.
Ioneer agreed to form a 50:50 joint venture with the S outh African miner to develop the Rhyolite Ridge mine.
It will initially invest €30m for a 30% stake in Keliber .