Precious metals miner Sibanye-Stillwater will buy Lonmin in an all-share deal, valuing the platinum producer at roughly $382 million.
Lonmin is the world’s third biggest platinum producer.
The Money Show’s Bruce Whitfield interviewed Sibanye-Stillwater Chief Executive Officer Neal Froneman.
Listen to the interview in the audio below (and/or scroll down for quotes from it).
Lonmin is about getting downstream processing capacity [i.e. smelters].— Neal Froneman, Sibanye-Stillwater
We’re buying the mines as well… they’re actually very good assets…— Neal Froneman, Sibanye-Stillwater
They’re potentially no worse off… and we’ve acquired assets cheaply.— Neal Froneman, Sibanye-Stillwater
Our primary focus is to deleverage our company… we’ve got a good plan, and we’re confident about it…— Neal Froneman, Sibanye-Stillwater
We could do this transaction without taking on further debt.— Neal Froneman, Sibanye-Stillwater
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