Sibanye-Stillwater boosts recycling push with $82m US acquisition
Precious metals miner Sibanye-Stillwater has agreed to buy US-based metals recycler Metallix Refining for $82-million, expanding its “urban mining” strategy.
Metallix, which operates two recycling facilities in North Carolina, recovers precious metals such as gold, silver, and platinum group metals from industrial waste streams.
“We are excited to be adding Metallix to our existing recycling footprint – the scale, technology and know-how adds positively to our existing recycling operations and advances our urban mining strategy,” CEO Neal Froneman said in a statement.
In the 12 months to December 2024, Metallix processed 4.2-million pounds of waste material containing precious metals, yielding 21 000 oz of gold, 874 000 oz of silver, 48 000 oz of palladium, 48 000 oz of platinum, 4 000 oz of rhodium, 3 000 oz of iridium and 263 000 lb of copper.
Froneman said the deal was expected to create “significant value uplift” through synergies with the company’s existing recycling operations in Montana and Pennsylvania.
The transaction follows Sibanye-Stillwater’s 2023 acquisition of the Reldan Group of Companies, which significantly expanded its presence in the metals recycling space.
The Metallix deal is set to further strengthen the group’s recycling network and logistics capabilities, broadening its sourcing reach across multiple regions. Closing is expected in the third quarter of this year, pending regulatory approval.
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