Latest news with #MetallixRefining
Zawya
22-07-2025
- Business
- Zawya
South Africa: Sibanye-Stillwater to acquire US PGM refinery for $82mln
Sibanye-Stillwater announced that it has entered into a purchase agreement to acquire Metallix Refining for $82m. In operation for the last 60 years, Metallix produces recycled precious metals, including gold, silver and platinum group metals (PGMs), primarily from industrial waste streams. It operates two processing and recycling operations in Greenville, North Carolina. Metallix has a global customer base, which it services from the United Kingdom and South Korea, in addition to its customers in the United States. For the 12 months ended 31 December 2024, Metallix processed approximately 4.2 million lbs of precious metals bearing waste materials and produced approximately 21koz of gold, 874koz of silver, 48koz of palladium, 48koz of platinum, 4koz of rhodium, 3koz of iridium and 263klb of copper. Metallix complements Sibanye-Stillwater's US recycling operations in Montana and Pennsylvania, adding processing capacity and proprietary technology. Sibanye-Stillwater CEO Neal Froneman commented: 'We are excited to be adding Metallix to our existing recycling footprint – the scale, technology, and know-how add positively to our existing recycling operations and advance our urban mining strategy. We expect significant value uplift through the large number of synergies with our existing recycling operations.' The acquisition enhances the group's global recycling reach and internal logistics capabilities, increasing its ability to source materials from multiple regions, facilitating the delivery of end-to-end solutions to customers. Based on the latest audited financial information, Metallix has recorded positive earnings and cash flow and is expected to contribute positively to the Sibanye-Stillwater Group's earnings and cash flow immediately. The transaction is expected to close during the third quarter of 2025, subject to receipt of applicable regulatory approvals customary to a transaction of this nature.
Yahoo
21-07-2025
- Business
- Yahoo
Sibanye-Stillwater to acquire metals recycler Metallix for $82m
Sibanye-Stillwater has signed an agreement to acquire Metallix Refining, a US-based metals recycler, for a cash consideration of $82m (R1.45bn), with an enterprise value of $105m. This acquisition is set to bolster Sibanye-Stillwater's global recycling footprint and enhance its processing capacity, technology and expertise. Metallix, with a history spanning more than six decades, specialises in producing recycled precious metals from industrial waste streams. Its operations in Greenville, North Carolina, have processed approximately 4.2 million pounds of precious metal-bearing waste materials, resulting in the production of significant quantities of copper, gold, iridium, palladium, platinum, rhodium and silver in the 12 months leading up to 31 December 2024. The integration of Metallix's operations with Sibanye-Stillwater's existing recycling facilities in Montana and Pennsylvania is expected to strengthen the latter's logistical capabilities. This strategic move is expected to enhance the group's ability to source materials from diverse regions and offer comprehensive solutions to its customers. Sibanye-Stillwater CEO Neal Froneman said: 'We are excited to be adding Metallix to our existing recycling footprint – the scale, technology and know-how adds positively to our existing recycling operations and advances our urban mining strategy. 'We expect significant value uplift through the large number of synergies with our existing recycling operations.' According to the latest audited financial data, Metallix has demonstrated positive earnings and cash flow, indicating that its addition to the Sibanye-Stillwater Group will have an immediate beneficial impact. The acquisition is due to be finalised in the third quarter of 2025, pending the necessary regulatory approvals. In May 2025, Sibanye-Stillwater reported a 17% increase in the projected cost of its Keliber lithium project in Finland, now estimated at €783m ($880m), up from the previous €667m. "Sibanye-Stillwater to acquire metals recycler Metallix for $82m" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
