South African multinational miner Sibanye-Stillwater, the largest shareholder in Australia’s New Century Resources Ltd. (19.9%), launched an off-market takeover offer for all the shares in New Century that its does not already own, saying the proposed takeover is in line with its strategy to invest in a circular economy and be a global leader in tailings retreatment and recycling.

The offer implies an equity value for New Century of $103 million. In the event that Sibanye-Stillwater acquires all of the securities in New Century that it does not already own, Sibanye-Stillwater will pay up to $83 million.

New Century operates Australia’s largest hydraulic mine at the Century mine in Queensland; extracting, processing and marketing zinc recovered from historical tailings. New Century is actively progressing life extension opportunities at Century and studying the potential to restart copper production at the Mt Lyell copper mine in Tasmania.