South African miner Sibanye Stillwater has entered into a $500 million streaming agreement with Franco-Nevada Corp to strengthen its financial position following a decline in platinum group metal (PGM) prices. Sibanye aims to utilize metals streaming and prepayment arrangements to secure upfront cash payments in exchange for future metal production. This strategic move comes as the company grapples with plummeting earnings due to the PGM price slump.
South African miner Sibanye Stillwater has struck a $500 million streaming agreement with Franco-Nevada Corp, Sibanye said on Thursday, as it seeks to boost its finances after a slump in platinum group metal prices.
“The group’s financial position has been reinforced at a competitive cost of capital,” Sibanye CEO Neal Froneman said in a statement. Sibanye will receive the cash in exchange for gold and platinum from its South African operations, the diversified miner said.
Mining Finance Platinum Streaming Agreement Sibanye Stillwater
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