The mining company wants to use equity to compete with its North American peers in securing more assets
Sibanye-Stillwater is considering moving its primary listing offshore to ensure it can compete for international assets, removing the perceived SA discount associated with being listed on the JSE, said CEO Neal Froneman.
Sibanye ran up $2.6bn in debt, roughly R30bn, to buy the Stillwater Mining palladium and platinum assets in the US, loading its balance sheet with debt and unsettling investors. Sibanye will likely expand into metals and minerals used in batteries for motor vehicles and large stationary applications, Froneman said, suggesting that in about three years there could be an announcement in this regard.
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