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SIBANYE STILLWATER LIMITED - Sibanye-Stillwater increases its strategic exposure to the circular economy

Release Date: 08/12/2021 08:30
Code(s): SSW     PDF:  
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Sibanye-Stillwater increases its strategic exposure to the circular economy

Sibanye Stillwater Limited
Incorporated in the Republic of South Africa
Registration number 2014/243852/06
Share codes: SSW (JSE) and SBSW (NYSE)
ISIN – ZAE000259701
Issuer code: SSW
(“Sibanye-Stillwater” or “Company” or “the Group”)


Sibanye-Stillwater increases its strategic exposure to the circular economy by
completing its 19.99% equity investment in New Century Resources

Johannesburg, 8 December 2021: Sibanye-Stillwater (Tickers JSE: SSW and NYSE:
SBSW) is pleased to announce that it now holds a 19.99% equity interest in New
Century Resources Limited (Ticker ASX: NCZ) (New Century) acquired at
A$61million1. This follows the overwhelming approval vote of 99.6% by the New
Century shareholders at its Annual General Meeting on 30 November 2021.

Sibanye-Stillwater CEO, Neal Froneman commented: “We are deliberately focused on
increasing our exposure to the circular economy through both recycling and
tailings re-treatment. Our investment in New Century complements our successful
partnership with DRDGOLD Limited, 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.

For more information on the transaction, refer to:

1 Being a total subscription amount of A$60.88m, equal to US$42.8m at an assumed exchange rate of AUDUSD of
(0.70 at 6 December 2021) and equivalent to 26.185m shares at a share price of A$2.325 per share (post a 1 for
15 share consolidation completed by New Century on 6 December 2021).

Investor relations contact:
James Wellsted
Head of Public Relations
Tel: +27 (0) 83 453 4014

Sponsor: J.P. Morgan Equities South Africa Proprietary Limited


The information in this document may contain forward-looking statements within the meaning
of the “safe harbour” provisions of the United States Private Securities Litigation Reform
Act of 1995. These forward-looking statements, including, among others, those relating to
Sibanye Stillwater Limited’s (“Sibanye-Stillwater” or the “Group”) financial positions,
business strategies, plans and objectives of management for future operations, are
necessarily estimates reflecting the best judgment of the senior management and directors
of Sibanye-Stillwater and involve a number of risks and uncertainties that could cause
actual results to differ materially from those suggested by the forward-looking statements.
As a consequence, these forward-looking statements should be considered in light of various
important factors, including those set forth in this report.

All statements other than statements of historical facts included in this report may be
forward-looking statements. Forward-looking statements also often use words such as “will”,
“forecast”, “potential”, “estimate”, “expect”, “plan”, “anticipate” and words of similar
meaning. By their nature, forward-looking statements involve risk and uncertainty because
they relate to future events and circumstances and should be considered in light of various
important factors, including those set forth in this disclaimer. Readers are cautioned
not to place undue reliance on such statements.

The important factors that could cause Sibanye-Stillwater’s actual results, performance
or achievements to differ materially from estimates or projections contained in the
forward-looking statements include, without limitation, Sibanye-Stillwater’s future
financial position, plans, strategies, objectives, capital expenditures, projected costs
and anticipated cost savings, financing plans, debt position and ability to reduce debt
leverage; economic, business, political and social conditions in South Africa, Zimbabwe,
the United States and elsewhere; plans and objectives of management for future operations;
Sibanye-Stillwater’s ability to obtain the benefits of any streaming arrangements or
pipeline financing; the ability of Sibanye-Stillwater to comply with loan and other
covenants and restrictions and difficulties in obtaining additional financing or
refinancing; Sibanye-Stillwater’s ability to service its bond instruments; changes in
assumptions underlying Sibanye-Stillwater’s estimation of its current mineral reserves;
any failure of a tailings storage facility; the ability to achieve anticipated efficiencies
and other cost savings in connection with, and the ability to successfully integrate,
past, ongoing and future acquisitions, as well as at existing operations; the ability of
Sibanye-Stillwater to complete any ongoing or future acquisitions; the success of Sibanye-
Stillwater’s business strategy and exploration and development activities; the ability of
Sibanye-Stillwater to comply with requirements that it operate in ways that provide
progressive benefits to affected communities; changes in the market price of gold and
PGMs; the occurrence of hazards associated with underground and surface mining; any further
downgrade of South Africa’s credit rating; a challenge regarding the title to any of
Sibanye-Stillwater’s properties by claimants to land under restitution and other
legislation; Sibanye-Stillwater’s ability to implement its strategy and any changes
thereto; the occurrence of labour disruptions and industrial actions; the availability,
terms and deployment of capital or credit; changes in the imposition of regulatory costs
and relevant government regulations, particularly environmental, tax, health and safety
regulations and new legislation affecting water, mining, mineral rights and business
ownership, including any interpretation thereof which may be subject to dispute; the
outcome and consequence of any potential or pending litigation or regulatory proceedings
or environmental, health or safety issues; the concentration of all final refining activity
and a large portion of Sibanye-Stillwater’s PGM sales from mine production in the United
States with one entity; the identification of a material weakness in disclosure and
internal controls over financial reporting; the effect of US tax reform legislation on
Sibanye-Stillwater and its subsidiaries; the effect of South African Exchange Control
Regulations on Sibanye-Stillwater’s financial flexibility; operating in new geographies
and regulatory environments where Sibanye-Stillwater has no previous experience; power
disruptions, constraints and cost increases; supply chain shortages and increases in the
price of production inputs; the regional concentration of Sibanye-Stillwater’s operations;
fluctuations in exchange rates, currency devaluations, inflation and other macro-economic
monetary policies; the occurrence of temporary stoppages of mines for safety incidents
and unplanned maintenance; Sibanye-Stillwater’s ability to hire and retain senior
management or sufficient technically skilled employees, as well as its ability to achieve
sufficient representation of historically disadvantaged South Africans in its management
positions; failure of Sibanye-Stillwater’s information technology and communications
systems; the adequacy of Sibanye-Stillwater’s insurance coverage; social unrest, sickness
or natural or man-made disaster at informal settlements in the vicinity of some of Sibanye-
Stillwater’s South African-based operations; and the impact of HIV, tuberculosis and the
spread of other contagious diseases, such as the coronavirus disease (COVID-19). Further
details of potential risks and uncertainties affecting Sibanye-Stillwater are described
in Sibanye-Stillwater’s filings with the Johannesburg Stock Exchange and the United States
Securities and Exchange Commission, including the Integrated Annual Report 2020 and the
Annual Report on Form 20-F for the fiscal year ended 31 December 2020.

These forward-looking statements speak only as of the date of the content. Sibanye-
Stillwater expressly disclaims any obligation or undertaking to update or revise any
forward-looking statement (except to the extent legally required). These forward-looking
statements have not been reviewed or reported on by the Group’s external auditors.

Date: 08-12-2021 08:30:00
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