Sibanye-Stillwater will no longer participate in the creation of a mine in Nevada, USA, as the expected investment returns will not reach the miner’s required level. <\/p>\n\n\n\n
The group has announced that it will not proceed with the Rhyolite Ridge Lithium-Boron Project with Australian-based Ioneer.<\/p>\n\n\n\n
In September 2021, Sibanye reached an agreement with Ioneer to establish a joint venture company concerning Rhyolite Ridge.<\/p>\n\n\n\n
According to Ioneer, Rhyolite Ridge would be a low-cost lithium site due to the valuable boron co-product and its cost-saving measures.<\/p>\n\n\n\n
Over its 26-year lifetime, Rhyolite Ridge was expected to help power upward of 50 million electric vehicles.<\/p>\n\n\n\n
As per the 2021 agreement, the completion of the joint venture was subject to various conditions
precedent under the joint venture agreement, which has since seen several amendments.<\/p>\n\n\n\n
The conditions include a final investment decision from the board affirming its commitment to proceed with the project. <\/p>\n\n\n\n
In October 2024, Sibanye received updated project and technical information from ioneer in the form of a technical report summary and other updated technical reports. <\/p>\n\n\n\n
Following a review and due diligence checks on the information, Sibanye’s board resolved not to proceed with Rhyolite Ridge. <\/p>\n\n\n\n
The group said that, among other things, the project did meet its investment hurdle rates at a prudent
pricing assumptions. <\/p>\n\n\n\n
An investment hurdle rate is the minimum rate of return required for an investor to receive the green light to proceed. <\/p>\n\n\n\n
The group shared the information with ioneer, which it currently has a 6.91% equity stake in. <\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Sibanye-Stillwater has pulled out of an agreement to build a mine in the USA, which could supply 50 million electric vehicles. <\/p>\n","protected":false},"author":95,"featured_media":814199,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[14747],"class_list":["post-814194","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-sibanye-stillwater"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/814194","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=814194"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/814194\/revisions"}],"predecessor-version":[{"id":814217,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/814194\/revisions\/814217"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/814199"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=814194"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=814194"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=814194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}