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Sibanye in $500m streaming deal with Wheaton

27th July 2018

By: Anine Kilian

Contributing Editor Online

     

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JSE-listed Sibanye-Stillwater has raised $500-million in a streaming deal with Wheaton Precious Metals International.

The agreement provides Sibanye-Stillwater with a long-term funding instrument that is linked to the operational performance of its US platinum-group metals operations, namely the Stillwater and East Boulder operations, and to the performance of the underlying commodities.

Sibanye’s obligations under the stream are limited to the delivery of a percentage of actualproduction, without repayment of the $500-million under any circumstances, and without minimum deliveries.

This introduces a funding instrument with limited obligations, minimising any potential for default.

The effective streaming date is July 1.

Edited by Martin Zhuwakinyu
Creamer Media Magazine Managing Editor

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