VANCOUVER (miningweekly.com) – The spinoff of JSE- and NYSE-listed Gold Fields, Sibanye has announced a $1-billion rights offering to repay a portion of a $2.65-billion loan facility it used to acquire US platinum producer Stillwater Mining.
The Johannesburg-based miner said Thursday that a further announcement setting out the full terms of and finalisation information regarding the rights offer is currently scheduled to be released on Thursday, 18 May. It said all information with regards to the rights offer will be available on its website later that day.
Sibanye has been broadening its geographical reach, reducing its reliance on gold and exposure to the rising political and social risks in South Africa.
Sibanye has reported strong first-quarter platinum production, recording output of 286 716 oz of platinum-group metals during the period.