Sibanye CEO Neal Froneman
Photo by: Duane Daws
JOHANNESBURG (miningweekly.com) – JSE- and NYSE-listed Sibanye Gold on Monday announced that it would provide $200-million in financial assistance to indirectly wholly owned subsidiary Thor US Holdco.
The gold miner’s $200-million advance will enable US platinum producer Stillwater Mining Company (SWC), which is a wholly owned subsidiary of US Holdco, to settle certain convertible notes.
In December, Sibanye, which is led by CEO Neal Froneman, entered into a definitive agreement to acquire all of the outstanding common stock of SWC for $2.2-billion, with the transaction concluded in May.