South African mining giant seals R1.45 billion deal

Sibanye-Stillwater, one of the world’s largest platinum producers, has agreed to buy US-based Metallix for around R1.45 billion.

The platinum giant informed the market on Monday, 21 July 2025, that it plans to buy Metallix to complement its US recycling operations. 

Metallix has been operating for over 60 years and produces recycled precious metals, including gold, silver and platinum group metals (PGMs), primarily from industrial waste streams. 

Although based in the United States, with 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.

Sibanye explained that this acquisition will complement its existing US recycling operations based in Montana and Pennsylvania.

In 2024, Sibanye processed and recycled 316,470 oz of 3E PGM ounces from spent recycled catalytic converters at its Columbus metallurgical facility, with 325,488 3E PGM ounces sold to the market.

The miner hopes the Metallix acquisition will enhance its global recycling reach and internal logistics capabilities, increase its ability to source materials from multiple regions, and facilitate the delivery of end-to-end solutions to customers.

Sibanye said it plans to acquire Metallix for a cash consideration of $82 million (around R1.45 billion).

Based on the latest audited financial information, Metallix has recorded positive earnings and cash flow and is expected to contribute positively to Sibanye’s earnings and cash flow immediately.

For the 12 months ended 31 December 2024, Metallix processed approximately 4.2 mlbs of precious metals-bearing waste materials.

The company also produced approximately 21 koz of gold, 874 koz of silver, 48 koz of palladium, 48 koz of platinum, 4 koz of rhodium, 3 koz of iridium and 263 klb of copper.

“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,” Sibanye CEO Neal Froneman said. 

“We expect significant value uplift through the large number of synergies with our existing recycling operations.”

The transaction is expected to close during the third quarter of 2025, subject to receiving the applicable regulatory approvals.