Sibanye raises $500 million via metals streaming deal with Franco-Nevada

Story by Reuters

December 19, 2024

(Reuters) -South African miner Sibanye Stillwater has struck a $500 million streaming agreement with Franco-Nevada Corp, Sibanye said on Thursday, as it seeks to boost its finances after a slump in platinum group metal (PGM) prices.

Sibanye has said it will pursue metals streaming and prepayment arrangements, which involve selling future metals production in return for an upfront cash payment, to bolster its balance sheet. This is after its earnings plunged due to the slide in PGM prices.

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