Sibanye Stillwater: Announcement relating to the planned acquisition of the Santa Rita and Serrote mines in Brazil

Sibanye Stillwater Limited Incorporated in the Republic of South Africa Registration Number 2014/243852/06

Share codes: SSW (JSE) and SBSW (NYSE) ISIN – ZAE000259701

Issuer code: SSW

(“Sibanye-Stillwater”, “the Company” and/or “the Group”)

Registered address:

Constantia office park

Bridgeview House • Building 11 •

Ground Floor Cnr 14th Avenue &

Route Hendrik Potgieter

Weltevreden Park • 1709

Address:

Private Bag X5 • Westonaria • 1780

Tel +27 11 278 9600 • Fax +27 11 278 9863

Website: www.sibanyestillwater.com

MARKETING

Announcement regarding the planned acquisition of the Santa Rita and Serrote mines in Brazil

Johannesburg, January 24, 2022: On October 26, 2021, Sibanye-Stillwater (Tickers JSE: SSW and NYSE: SBSW) announced that it had entered into buy and sell agreements with affiliates of funds advised by Appian Capital Advisory LLP (“Appian”) to purchase 100% of the Santa Rita nickel (“Santa Rita”) and Serrote copper mine, both located in Brazil, for cash consideration of US$1.0 billion and a net smelter royalty of 5, 0% on potential future underground production at Santa Rita (the “Atlantic Nickel SPA” and the “MVV SPA”, respectively).

The Company has been informed by Appian that following the signing of the Atlantic Nickel SPA and the MVV SPA, a geotechnical event has occurred at Santa Rita. The Company has assessed the event and its effect and has concluded that it is and is reasonably expected to be material and adverse to the business, financial condition, results of operations, properties, assets, liabilities or operations of Santa Rita.

Accordingly, pursuant to the terms of the Atlantic Nickel SPA, Sibanye BM Brazil (Proprietary) Limited (the “Buyer”), a wholly owned subsidiary of Sibanye-Stillwater, has today given notice of termination of the Atlantic Nickel SPA Nickel. The MVV SPA being conditional on the simultaneous closing of the Atlantic Nickel SPA, and this condition having become impossible to satisfy, the Acquirer has also notified today the termination of the MVV SPA.

Ends.

Investor relations contact: E-mail:

[email protected] James Wellsted

Investor Manager

Relations Tel: +27

  1. 83 453 4014 www.sibanyestillwater.com

Sponsor: JP Morgan Equities South Africa Proprietary Limited

FORWARD-LOOKING STATEMENTS

The information contained herein may contain forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including, without limitation, those relating to Sibanye Stillwater Limited (” Sibanye-Stillwater” or the “Group”) financial positions, business strategies, plans and management objectives for future operations, are necessarily estimates reflecting the best judgment of the general management and directors of Sibanye-Stillwater and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Accordingly, these forward-looking statements should be considered in light of various important factors, including those set forth in this report.

All statements other than statements of historical facts included in this report may be forward-looking statements. Forward-looking statements also often use words such as “will”, “expect”, “potential”, “estimate”, “expect”, “plan”, “anticipate” and words of similar meaning. By their nature, forward-looking statements involve risks and uncertainties because they relate to future events and circumstances and should be considered in light of a variety of important factors, including those set forth in this disclaimer. Readers are cautioned not to place undue reliance on these statements.

Important factors that could cause Sibanye-Stillwater’s actual results, performance or achievements to differ materially from the estimates or projections contained in the forward-looking statements include, without limitation, Sibanye-Stillwater’s future financial condition, its plans, strategies, objectives, capital expenditures, projected costs and anticipated cost savings, financing plans, debt position and ability to reduce debt leverage; economic, business, political and social conditions in South Africa, Zimbabwe, the United States and elsewhere; management plans and objectives for future operations; Sibanye-Stillwater’s ability to obtain the benefits of any broadcast or pipeline financing agreements; Sibanye-Stillwater’s ability to comply with loans and other covenants and restrictions and difficulties in obtaining additional financing or refinancing; Sibanye-Stillwater’s ability to manage its debt instruments; changes in assumptions underlying Sibanye-Stillwater’s estimate of its current mineral reserves; any failure of a tailings storage facility; the ability to realize anticipated efficiencies and other cost savings in connection with past, pending and future acquisitions, as well as existing operations, and the ability to successfully integrate them; Sibanye-Stillwater’s ability to complete any pending or future acquisitions; the success of Sibanye-Stillwater’s business strategy and exploration and development activities; Sibanye-Stillwater’s ability to comply with requirements that it operates in a manner that provides progressive benefits to affected communities; changes in the market price of gold and PGMs; the occurrence of hazards associated with underground and surface mining; any further downgrade of South Africa’s credit rating; a title challenge to Sibanye-Stillwater by 4 land claimants under restitution and other laws; Sibanye-Stillwater’s ability to implement its strategy and any changes thereto; the occurrence of labor disruptions and industrial action; the availability, terms and deployment of capital or credit; changes in the imposition of regulatory costs and relevant government regulations, in particular environmental, tax, health and safety regulations and new legislation affecting water, mining, mineral rights and business ownership, including any interpretation thereof which may be subject to dispute; the outcome and consequences of any potential or pending litigation or regulatory proceeding or environmental, health or safety issue; the concentration of all final refining activities and a large portion of Sibanye-Stillwater’s PGM sales from mine production in the United States with a single entity; the identification of a material weakness in disclosure and internal controls over financial reporting; the effect of US tax reform legislation on Sibanye-Stillwater and its subsidiaries; the effect of South African exchange control regulations on Sibanye-Stillwater’s financial flexibility; operating in new geographies and regulatory environments where Sibanye-Stillwater has no prior experience; power outages, constraints and cost increases; supply chain shortages and increases in the price of production inputs; the regional concentration of Sibanye-Stillwater’s activities; exchange rate fluctuations, currency devaluations, inflation and other macroeconomic monetary policies; the occurrence of temporary mine shutdowns for safety incidents and unplanned maintenance; Sibanye-Stillwater’s ability to hire and retain senior management or sufficient technically qualified employees, as well as its ability to ensure sufficient representation of historically disadvantaged South Africans in its leadership positions; failure of Sibanye-Stillwater’s information and communication technology systems; the adequacy of Sibanye-Stillwater’s insurance coverage; social unrest, disease or natural or man-made disasters in informal settlements near some of Sibanye-Stillwater’s South African operations; and the impact of HIV, tuberculosis and the spread of other communicable diseases, such as the coronavirus disease (COVID-19). Further details of the potential risks and uncertainties affecting Sibanye-Stillwater are described in Sibanye-Stillwater’s filings with the Johannesburg Stock Exchange and the United States Securities and Exchange Commission, including the 2020 Integrated Annual Report and the annual report on Form 20-F for the financial year ended December 31, 2020.

These forward-looking statements speak only as of the date of the content. Sibanye-Stillwater expressly disclaims any obligation or undertaking to update or revise any forward-looking statements (except as required by law). These forward-looking statements have not been reviewed or reported by the Group’s external auditors.

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Sibanye Stillwater Limited published this content on January 24, 2022 and is solely responsible for the information contained therein. Distributed by public, unedited and unmodified, on January 24, 2022 06:23:02 UTC.

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Analyst recommendations on SIBANYE STILLWATER LIMITED
Sales 2021 164B
10,894 million
10,894 million
Net income 2021 40,277M
2,669 million
2,669 million
Net cash 2021 15,184M
1,006 million
1,006 million
PER 2021 ratio 4.38x
2021 performance 7.97%
Capitalization 165B
10,961 million
10,947 million
EV / Sales 2021 0.91x
EV / Sales 2022 0.88x
# of employees 80,000
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Number of analysts ten
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ZAR58.83

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Average Spread / Target 23.9%

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