Sibanye scraps $1bn deal to buy two Brazilian mines

Sibanye scraps $1bn deal to buy two Brazilian mines

2022-01-24 11:33:00 AM

Sibanye scraps $1bn deal to buy two Brazilian mines

The cancellation of the transaction comes just two months after Sibanye-Stillwater signed definitive deals with Appian Capital Advisory

Andries MahlanguSibanye-Stillwater has canned a $1bn deal to acquire two Brazilian mines, marking a blow in its efforts to diversify its income streams by building a portfolio of metals critical to environmentally friendly electric vehicles (EV).Led by CEO and renowned deal maker Neil Froneman, Sibanye-Stillwater said in a statement on Monday that its decision followed the assessment of the geotechnical event at Santa Rita, one of the world’s largest open-pit nickel-cobalt sulphide mines...

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