https://www.miningweekly.com
Business|Copper|Flow|Gold|Industrial|Mining|Platinum|Safety|Waste|Waste Management|Flow|Environmental|Waste|Operations
Business|Copper|Flow|Gold|Industrial|Mining|Platinum|Safety|Waste|Waste Management|Flow|Environmental|Waste|Operations
business|copper|flow-company|gold|industrial|mining|platinum|safety|waste-company|waste-management|flow-industry-term|environmental|waste|operations

Sibanye-Stillwater dives deeper into circular economy with $155m deal

Sibanye-Stillwater CEO Neal Froneman

Sibanye-Stillwater CEO Neal Froneman

9th November 2023

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

Multinational mining and metals processing group Sibanye-Stillwater on Thursday announced the acquisition of the Reldan Group of Companies, a US-based metals recycler.

The acquisition, valued at $211.5-million with a cash purchase consideration of $155.4-million, not only enhances the company’s exposure to the circular economy, but also complements its US platinum group metals (PGMs) recycling business in Montana.

Between Reldan and Sibanye’s US PGMs recycling business in Montana, about 170 000 oz of secondary gold and 400 000 oz to 450 000 oz of secondary PGMs production will be produced.

“The strategic acquisition of Reldan is a further pivotal step in our company’s commitment to sustainability and our journey toward net zero,” said CEO Neal Froneman.  

He commended Reldan’s “exceptional environmental, governance and safety standards position”, highlighting that it offers an “exemplary platform” to amplify Sibanye-Stillwater’s recycling efforts.

Reldan, headquartered in Pennsylvania, specialises in reprocessing various waste streams, including industrial waste (semiconductor scrap, plating waste, et cetera) and electronic waste (mobile phones, tablets, et cetera) to recycle green precious metals.

In the 12 months ending December 2022, Reldan processed about 23-million pounds of waste and produced 145 000 oz of gold, 1.9-million ounces of silver, 22 000 oz of palladium, 25 000 oz of platinum, and 3.4-million pounds of copper.

Reldan boasts a seasoned management team with over four decades of operational experience. Besides its US operations, Reldan has established a presence in Mexico and India, where it has forged strategic joint ventures (JV) with local partners. In India, Reldan has a JV with Re Sustainability, one of Asia’s leading integrated waste management organisations, enabling it to tap into the fast-growing market for precious metals recycling in India.

In 2022, Reldan generated $371-million revenue, $42-million earnings before interest, taxes, depreciation and amortisation, $39-million in earnings and $28-million in free cash flow.

The transaction is slated to close during the first quarter of 2024, subject to receipt of applicable regulatory approvals.

Edited by Creamer Media Reporter

Comments

Showroom

Immersive Technologies
Immersive Technologies

Immersive Technologies is the world's largest, proven and tested supplier of simulator training solutions to the global resources industry.

VISIT SHOWROOM 
Schauenburg SmartMine IoT
Schauenburg SmartMine IoT

SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Platinum, diamonds, hydrogen make headlines
Platinum, diamonds, hydrogen make headlines
19th July 2024
Magazine round up | 19 July 2024
Magazine round up | 19 July 2024
19th July 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.216 0.253s - 130pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: