Sibanye concludes buyout of 19.99% stake in New Century

8th December 2021 By: Simone Liedtke - Writer

Precious and battery metals group Sibanye-Stillwater has completed the acquisition of a 19.99% equity interest in ASX-listed New Century Resources, which it acquired for A$61-million.

This follows the overwhelming approval of the transaction by the majority of New Century shareholders at its annual general meeting on November 30, the miner said.

Sibanye CEO Neal Froneman says the company is deliberately focused on increasing its exposure to the circular economy through both recycling and tailings retreatment.

“Our investment in New Century complements our successful partnership with DRDGold, and we look forward to supporting New Century to build a leading global tailings retreatment business, uniquely positioned to play a key role in green metal supply chains,” he notes.