Sibanye-Stillwater to buy Lonmin

Platinum nugget. Picture: Supplied.

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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