News24.com | Sibanye desires to faucet inexperienced metals growth as gold offers lack worth

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Sibanye CEO Neal Froneman says it's currently very difficult to find value in the gold sector. So, the company's immediate priority is to expand in battery metals. Photo: Waldo Swiegers/Bloomberg via Getty Images Sibanye CEO Neal Froneman says it is at present very troublesome to search out worth within the gold sector. So, the corporate’s fast precedence is to broaden in battery metals. Photograph: Waldo Swiegers/Bloomberg through Getty Pictures

Sibanye Stillwater’s dealmaking boss mentioned the valuable metallic
miner’s fast precedence is to broaden in battery metals moderately than gold.

A few of the greatest mining corporations are increasing into or
eying commodities tied to the inexperienced revolution, similar to metals utilized in
electric-vehicle batteries. Already this yr, Johannesburg-based Sibanye
struck offers to purchase a nickel hydrometallurgical processing facility in France
and purchase a stake within the proprietor of a lithium mission in Finland.

That marked Sibanye’s first foray into battery metals as CEO
Neal Froneman seems to develop and diversify the corporate. The CEO has already
reworked Sibanye from a gold miner centered on South Africa to a large in
platinum-group metals by increasing at dwelling and within the U.S.

“For the time being it is very troublesome to search out worth within the
gold sector,” he mentioned on an investor name on Thursday. “I don’t see
the gold value doubling or tripling, however I see battery metals doing that within the
not-too-distant future.”

Sibanye remains to be attention-grabbing in increasing its gold enterprise
in the long run, Froneman mentioned. Earlier this yr, he mentioned he was ready to
spend as a lot as $5 billion on gold belongings with an annual output of greater than 1
million ounces.

The corporate can be weighing choices to develop uranium
tasks at its Beatrix West and Cooke belongings in South Africa, the place it sees
gold output regularly declining from 2025 as commercially viable reserves
dwindle.

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