May 21, 2024
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Sibanye Stillwater Pursues Mopani Copper Mines Deal

Sibanye Stillwater (SSWJ.J), a Johannesburg-based precious metals producer remains committed to its bid for Mopani Copper Mines, stating the required investment isn’t excessive.

The company’s CEO, Neal Froneman, revealed internal studies suggesting a manageable $1 billion investment over four to five years, Reuters reported.

“It sounds like a big number but over five years that’s probably $200 million per year. Its not onerous, its an investment into the asset and that’s for the benefit of everybody,” Froneman said.

Sibanye is engaging with the Zambian government via ZCCM for the acquisition. Analysts express concerns about Sibanye’s rapid expansion affecting its finances and dividends. Froneman emphasized a cautious approach, ensuring fiscal responsibility amid their diverse ventures.

The new owner of Mopani Mines is expected to invest in making copper output to about 200,000 tons per year by 2027.

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