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Sibanye implements transaction with DRDGOLD

Sibanye-Stillwater recently acquired a 38.05% stake in DRDGOLD through an asset swap deal worth R895.7 million.

The transaction, which was fulfilled on 31 July 2018 will allow the companies to exchange selected surface gold processing assets and tailings storage facilities (TSFs), for newly issued DRDGOLD shares.

Commenting on the Transaction, Neal Froneman, CEO of Sibanye-Stillwater, said, “We are excited about the partnership with DRDGOLD, which unlocks value for our under-utilised surface infrastructure and TSFs, while retaining upside to the West Rand Tailings Retreatment Project and future growth in DRDGOLD.

“Further value will be derived from the future development of this long life surface reclamation project, which will benefit all of our stakeholders, particularly those in the region.”

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