South African mining giant buying US company for R1.5 billion
Sibanye-Stillwater is purchasing US metals recycler Metallix, which should enhance its global recycling footprint.
The group said it has entered into a purchase agreement to acquire Metallix Refining for a cash consideration of $82 million or R1.5 billion (an enterprise value of $105 million or R1.9 billion).
Metallix produces recycled precious metals, such as gold, silver and platinum group metals, primarily from industrial waste streams.
The company operates two processing and recycling operations in Greenville, North Carolina. On top of US customers, Metallix has a global customer base, which it services from the UK and South Korea.
The company has been operating for over 60 years. In 2024, it processed 4.2 million pounds of precious metals.
It produced roughly 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, proprietary technology and extensive knowledge and experience,” it said.
“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.”
Metallix has recorded positive earnings and cash flow and is expected to contribute immediately to the Sibanye-Stillwater Group’s earnings and cash flow.
The deal is expected to close in the third quarter of 2025, and is subject to receipt of applicable regulatory approvals common for a transaction of this nature.
“We are excited to be adding Metallix to our existing recycling footprint,” said Sibanye-Stillwater CEO Neal Froneman.
“The scale, technology and know-how add positively to our existing recycling operations and advance our urban mining strategy.”
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