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Sibanye-Stillwater wants Mponeng

JOHANNESBURG — Sibanye-Stillwater is in talks over a potential acquisition of the world’s deepest gold mine, Mponeng, as current owner AngloGold Ashanti plans its South African exit, Sibanye said on Thursday.

A spokesman for the diversified miner confirmed the talks, after AngloGold said in May that it would review divestment options for Mponeng and other South African assets to focus on higher returns elsewhere.

“We have said we are open minded to the opportunity,” Sibanye chief executive Neal Froneman said.

“We are not panting after more deep-level gold mines but there are significant synergies and opportunities between Driefontein and
Mponeng.”

He declined to comment further due to a non-disclosure agreement.

Sibanye swung into the red in the first half as a five-month strike at its South African gold operations weighed on profits despite
improved financial results from the South African and U.S. platinum group metals (PGMs) operations.

Sibanye on Thursday reported a headline loss for the six months to end June of 54 cents per share, compared with a profit of 4 cents per
share a year before.

Reuters

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