Wrap Text
Sibanye-Stillwater to acquire US metals recycler Metallix
Sibanye Stillwater Limited
Incorporated in the Republic of South Africa
Registration number 2014/243852/06
Share codes: SSW (JSE) and SBSW (NYSE)
ISIN – ZAE000259701
Issuer code: SSW
(Sibanye-Stillwater or Group or Company)
Website: www.sibanyestillwater.com
Sibanye-Stillwater to acquire US metals recycler Metallix, enhancing its global recycling
footprint
Johannesburg, 21 July 2025: Sibanye-Stillwater (Tickers JSE: SSW and NYSE: SBSW) advises
that it has entered into a purchase agreement to acquire Metallix Refining (Metallix) for
a cash consideration of US$82m (an enterprise value of US$105m) (the Transaction).
Metallix produces recycled precious metals, including gold, silver and platinum group
metals (PGMs), primarily from industrial waste streams. It operates two processing and
recycling operations in Greenville, North Carolina. Metallix has a global customer base,
which it services from the United Kingdom and South Korea, in addition to its customers
in the United States. The company has been operating for over 60 years. For more
information, refer to Metallix's website at https://metallix.com/.
For the 12 months ended 31 December 2024, Metallix processed* approximately 4.2mlbs of
precious metals bearing waste materials and produced* approximately 21koz of gold, 874koz
of silver, 48koz of palladium, 48koz of platinum, 4koz of rhodium, 3koz of iridium and
263klb of copper.
Acquisition rationale
Metallix complements Sibanye-Stillwater's US recycling operations in Montana and
Pennsylvania, adding processing capacity, proprietary technology and extensive knowledge
and experience. The acquisition enhances the Group's global recycling reach and internal
logistics capabilities, increasing its ability to source materials from multiple regions,
facilitating the delivery of end-to-end solutions to customers.
Based on the latest audited financial information, Metallix has recorded positive earnings
and cash flow* and is expected to contribute positively to the Sibanye-Stillwater Group
earnings and cash flow immediately.
The Transaction is expected to close during the third quarter of 2025, subject to receipt
of applicable regulatory approvals customary to a transaction of this nature.
Sibanye-Stillwater Chief Executive Officer, Neal Froneman commented, "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. We expect significant value uplift through the large number of synergies with
our existing recycling operations."
Categorisation of the transaction
The Transaction is not a categorised transaction under the JSE Limited Listings
Requirements and this announcement has been voluntarily released by Sibanye-Stillwater.
* Source: Metallix
About Sibanye-Stillwater
Sibanye-Stillwater is a multinational mining and metals processing group with a diverse
portfolio of operations, projects and investments across five continents. The Group is
also one of the foremost global recyclers of a suite of metals and has interests in
leading mine tailings retreatment operations.
Sibanye-Stillwater is one of the world's largest primary producers of platinum, palladium,
and rhodium and is a top tier gold producer. It also produces and refines iridium and
ruthenium, nickel, chrome, copper and cobalt. The Group has also diversified into battery
metals mining and processing and has increased its presence in the circular economy by
growing its recycling and tailings reprocessing exposure globally. For more information,
see www.sibanyestillwater.com.
Investor relations contact:
Email: ir@sibanyestillwater.com
James Wellsted
Executive Vice President: Investor Relations and Corporate Affairs
Tel: +27 (0) 83 453 4014
Website: www.sibanyestillwater.com
LinkedIn: https://www.linkedin.com/company/sibanye-stillwater
Facebook: https://www.facebook.com/SibanyeStillwater
YouTube: https://www.youtube.com/@sibanyestillwater/videos
X: https://twitter.com/SIBSTILL
Sponsor: J.P. Morgan Equities South Africa Proprietary Limited
FORWARD LOOKING STATEMENTS
This announcement contains forward-looking statements within the meaning of the "safe harbour"
provisions of the United States Private Securities Litigation Reform Act of 1995. All statements
other than statements of historical fact included in this presentation may be forward-looking
statements. Forward-looking statements may be identified by the use of words such as "will",
"would", "expect", "forecast", "potential", "may", "could" "believe", "aim", "anticipate",
"target", "estimate" and words of similar meaning.
These forward-looking statements, including among others, those relating to Sibanye Stillwater
Limited's (Sibanye-Stillwater or the Group) future financial position, business strategies,
business prospects, industry forecasts, production and operational guidance, climate and ESG-
related targets and metrics, and plans and objectives for future operations, project finance and
the completion or successful integration of acquisitions, are necessarily estimates reflecting the
best judgement of Sibanye-Stillwater's senior management. Readers are cautioned not to place undue
reliance on such statements. Forward-looking statements involve a number of known and unknown
risks, uncertainties and other factors, many of which are difficult to predict and generally beyond
the control of Sibanye-Stillwater, that could cause its actual results and outcomes to be materially
different from historical results or from any future results expressed or implied by such forward-
looking statements. As a consequence, these forward-looking statements should be considered in
light of various important factors, including those set forth in Sibanye-Stillwater's 2024
Integrated Report and annual report on Form 20-F filed with the Securities and Exchange Commission
(SEC) on 25 April 2025 (SEC File no. 333-234096). These forward-looking statements speak only as
of the date of this presentation. Sibanye-Stillwater expressly disclaims any obligation or
undertaking to update or revise any forward-looking statement (except to the extent legally
required).
WEBSITES
References in this announcement to information on websites (and/or social media sites) are included
as an aid to their location and such information is not incorporated in, and does not form part
of, this announcement.
Date: 21-07-2025 08:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
