{"id":1159224,"date":"2020-01-10T05:52:50","date_gmt":"2020-01-10T11:52:50","guid":{"rendered":"https:\/\/www.mining.com\/?p=1010942"},"modified":"2020-01-10T05:52:50","modified_gmt":"2020-01-10T11:52:50","slug":"sibanye-stillwater-becomes-drdgolds-majority-owner","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1159224","title":{"rendered":"Sibanye-Stillwater becomes DRDGOLD\u2019s majority owner"},"content":{"rendered":"<p>South Africa\u2019s Sibanye-Stillwater (JSE:SGL) (NYSE:SBGL)&nbsp;has <a href=\"https:\/\/thevault.exchange\/?get_group_doc=245\/1578638213-WithLogoSibanye-Stillwatercementsitsindustry-leadingsurfaceminingpartnershipwithDRDGOLD10Jan2020.pdf\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">exercised an option to acquire an additional 12% interest<\/a> in DRDGOLD (JSE, NYSE:DRD), bringing the total stake in the gold tailings retreatment company to 50.1%.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The deal is the single largest investment ever made by an individual shareholder in DRDGOLD, chief executive Ni\u00ebl Pretorius said <a href=\"https:\/\/www.drdgold.com\/investors-and-media\/media-releases\/2020\/drdgold-announces-exercise-by-sibanye-stillwater-of-option-to-acquire-additional-12-interest-for-approximately-r1-billion-01-10-2020\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">in a separate statement<\/a>.<\/p>\n<p>DRDGOLD acquired the gold assets of Sibanye-Stillwater\u2019s West Rand Tailings Retreatment Project \u2014 now known as Far West Gold Recoveries (FWGR) \u2014 <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.mining.com\/drdgold-okays-sibanye-stillwater-110-million-assets-exchange-deal\/\" >in early 2018<\/a>. In return, Sibanye grabbed a 38.1% stake in the company and was given two years to buy an additional 12%.<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p>Transaction is the single largest investment ever made by an individual shareholder in DRDGOLD.<\/p>\n<\/blockquote>\n<\/figure>\n<p>Pretorius said the proceeds of<br \/>\nSibanye\u2019s stake purchase would be used to funding the early-stage development<br \/>\nof phase 2 of its large-scale, long-life&nbsp;surface&nbsp;tailings retreatment<br \/>\nproject, expected to handle about 1.2 million tonnes&nbsp;of material&nbsp;a<br \/>\nmonth.<\/p>\n<p>FWGR\u2019s first phase, <a href=\"https:\/\/www.mining.com\/drdgold-begins-first-phase-far-west-tailings-project\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">launched in Dec. 2018<\/a>, has reached a processing rate of 500,000 tonnes per month. <\/p>\n<p>Sibanye-Stillwater chief executive, Neal Froneman, said that securing the majority holding in DRDGOLD was part of the miner\u2019s strategy to create value for all stakeholders. <\/p>\n<p>\u201cWe are thrilled that the value of our initial shareholding has already increased by 147% over 17 months,\u201d Froneman said. \u201cWe look forward to further value creation as DRDGOLD completes its detailed planning and possible implementation of Phase 2.\u201d<\/p>\n<p>DRDGOLD focuses on the recovery of<br \/>\nlower-risk, higher-margin ounces, primarily from its flagship Ergo&nbsp;metallurgical<br \/>\nplant, located about 50km east of Johannesburg in Brakpan. The company has<br \/>\nestablished itself as one of South Africa\u2019s top gold tailings retreatment<br \/>\noperator.<\/p>\n<p>Sibanye-Stillwater is South<br \/>\nAfrica\u2019s largest gold producer and the world\u2019s third largest producer of<br \/>\npalladium and platinum.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The South African gold and platinum producer has exercised an option to acquire an additional 12% interest in the tailings retreatment company.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369,2857,2640],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1159224"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1159224"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1159224\/revisions"}],"predecessor-version":[{"id":1159274,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1159224\/revisions\/1159274"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1159224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1159224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1159224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}