Sibanye Announced Significant Progress in Battery Metals Strategy

SEATTLE (Scrap Monster): Sibanye-Stillwater announced that it has entered into an exclusive put option agreement with French mining group Eramet SA towards acquisition of the Sandouville nickel hydrometallurgical processing facility, located in Normandy, France for €65million.

Also, the two parties have reached an agreement on a share purchase agreement, which will be executed upon successful completion of the consultation process with the works council of Eramet Sandouville. The transaction is expected to complete by end-2021, subject to approval by the South African Reserve Bank and other regulatory approvals.

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This is the second major step in the company’s battery metals strategy. Earlier in February this year, it had partnered with the State of Finland and the Finnish Minerals Group in the Keliber lithium hydroxide project. The acquisition will enable the company to further advance its battery metals strategy and recycling activities. It marks low risk entry into the nickel beneficiation business and increases downstream exposure to the battery metals value chain.

Sibanye-Stillwater will initially focus on ramping up throughput as per the existing Eramet plans. It has already completed a scoping study, aimed at unlocking the full potential of the facility. It plans to soon announce a detailed investment and development plan.