Sibanye-Stillwater buys Brazilian nickel, copper firms from Appian Capital

Miner Sibanye-Stillwater has acquired Brazilian companies Atlantic Nickel and Mineração Vale Verde (MVV) from Appian Capital Advisory LLP for $1 billion and an additional royalty, the companies have said.

The deal will give Sibanye-Stillwater 100% ownership of both the Santa Rita nickel mine operated by Atlantic Copper, and the Serrote copper mine operated by MVV.
Appian will receive $1 billion in cash plus a 5.0% net smelter return royalty over potential future underground production at Santa Rita, the companies added.

“The transaction is a significant additional step in Sibanye-Stillwater’s continuing strategy to position the business for continued value creation during our transition into a climate change-resilient business,” Sibanye-Stillwater chief executive officer Neal Froneman said, “and...

Published

Andrea Hotter

October 26, 2021

13:00 GMT

New York