Mining News

Sibanye takes full control of Kroondal for R1 plus mine closure, rehab costs

Subsidiary of JSE- and NYSE-listed Sibanye-Stillwater – Sibanye Rustenburg Platinum Mines (Rustenburg operation) – has entered into an agreement with Anglo American Platinum (Amplats) subsidiary – Rustenburg Platinum Mines (RPM) – in which the Rustenburg operation will assume full ownership of the low-cost, mechanised Kroondal operation.

This transaction, although valued at R1, also comes with ownership of the Marikana pool-and-share agreement (PSA) and any associated mine closure and rehabilitation liabilities and costs for Kroondal. These costs are currently estimated to be about R415-million.

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