Sibanye-Stillwater has entered into a purchase agreement to acquire Metallix Refining, a precious metals recycling company based in New Jersey, US.
The acquisition is expected to enhance Sibanye’s US recycling operations in Montana and Pennsylvania by providing processing capacity, proprietary technology and extensive knowledge and experience.
During the 12 months ending December 31 2024, Metallix processed approximately 4200 pounds of precious metals bearing waste materials.
It also produced approximately 21,000 ounces (oz) of gold, 874,000oz of silver, 48,000oz of palladium, 48,000oz of platinum, 4000oz of rhodium, 3000oz of iridium and 263 kilopounds of copper during the period via its two processing and recycling operations in Greenville, North Carolina.
By bringing Metallix under its fold, Sibanye is expected to expand its global recycling reach and internal logistics capabilities, increase its ability to source materials from multiple regions, and enable the delivery of end-to-end solutions to customers.
“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,” Sibanye chief executive officer Neal Froneman said.
“We expect significant value uplift through the large number of synergies with our existing recycling operations.”
The acquisition has an enterprise value of $US105 million ($168.2 million) with a cash purchase consideration payable of $US82 million ($125.6 million).
The deal is expected to close during the third quarter of 2025, after receiving the applicable regulatory approvals.
In other recent Sibanye news, the company has been included in the FTSE4Good Index Series for the 10th consecutive year. This demonstrates the company’s leadership in the sustainability space.
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