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November 5, 2021

Sibanye-Stillwater to acquire Sandouville asset in France

The deal follows the signing of an exclusive put option agreement by Sibanye to acquire the Sandouville asset.

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.

The deal follows the signing of an exclusive put option agreement by S ibanye-S tillwater in July to acquire the asset for €65m.

At that time, the two firms agreed to sign a S PA that would be conditional on successful consultations with the works council of the S andouville 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.

S ibanye said that it will now work with Eramet on the remaining conditions precedent.

This will include clearance for the transfer of the permits and carve out arrangements. These are anticipated to be finalised by early next year.

In an effort to expand battery metals exposure, S ibanye signed a deal to buy a 50% stake in Ioneer’s Rhyolite Ridge Lithium-Boron Project in Nevada, US , for $490m.

Ioneer agreed to form a 50:50 joint venture with the S outh African miner to develop the Rhyolite Ridge mine.

Earlier this year, S ibanye agreed to invest in Finnish lithium firm Keliber , making its foray into the battery metals space.

It will initially invest €30m for a 30% stake in Keliber .

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