https://www.miningweekly.com

Sibanye tying up New Century strings

30th March 2023

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Suitor Sibanye-Stillwater Resources has started the compulsory acquisition of the remaining shares in takeover target New Century Resources after gaining a 90% interest in the ASX-listed company.

Sibanye-Stillwater in February launched a A$1.10-a-share takeover offer for Australian zinc miner New Century Resources, in which it held an initial 19.9% interest.

In its takeover offer, the JSE- and NYSE-listed company expressed concern about the change in the strategic direction of New Century under its current management, with the building of a tailings asset management services business no longer a focus.

The suitor has subsequently offered New Century a A$30-million lifeline after the company was forced to halt operations at its Queensland zinc mine in early March, following heavy rains.

In a letter to New Century’s remaining shareholders, Sibanye-Stillwater urged the acceptance of the takeover offer before the closing date of April 11.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Willard
Willard

Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...

VISIT SHOWROOM 
SafeQuip
SafeQuip

SafeQuip is a leading distributor and manufacturer of fire safety solutions, offering a comprehensive range of products designed to meet all...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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:0.043 0.783s - 110pq - 2rq
Subscribe Now