- Published: Monday, 09 January 2017 10:13
- Written by Steve Fiscor
Happy New Year! The big news this month is Sibanye Gold acquiring the Stillwater Mining Co., an iconic U.S. platinum group metals (PGMs) miner based in Montana. In a little less than four years, Sibanye, which was spun out of Gold Fields in February 2013, has grown from a South African gold miner to a South African precious metals miner to a multinational precious metals miner. Readers might recall that the company also acquired several South African platinum mining operations. Besides being a bit ambitious, what makes this move a little different from previous acquisitions is that Sibanye is pursuing a healthy mining company on the other side of the world. With Stillwater producing substantially more palladium than platinum, Sibanye would control roughly 13% of global platinum and palladium production and become the third largest producer of both metals. Sibanye has placed a big bet on PGMs and a classic U.S. mining operation.