Brief: Sibanye-Stillwater and DRDGOLD to create surface mining partnership

DrdGOLD

22/11/2017 05:40

Nov 22 (Reuters) - Sibanye-stillwater  SGLJ.J : 
    * SIBANYE-STILLWATER AND DRDGOLD TO CREATE SURFACE MINING 
PARTNERSHIP 
    * SIBANYE-STILLWATER  - SIBANYE-STILLWATER TO VEND SELECTED 
GOLD 
SURFACE PROCESSING ASSETS AND TAILINGS STORAGE FACILITIES FOR A 
38% STAKE IN DRDGOLD 
    * SIBANYE-STILLWATER  - OPTION TO INCREASE EQUITY OWNERSHIP 
IN 
DRDGOLD TO 50.1% WITHIN 24 MONTHS 
    * SIBANYE-STILLWATER  - RETAINS FULL OWNERSHIP OF COOKE AND 
EZULWINI PROCESSING PLANTS AND TAILINGS FACILITIES ENSURING FULL 
URANIUM OPTIONALITY 
    * SIBANYE-STILLWATER  - IMMEDIATE CRYSTALLISATION OF C.R1.3 
BILLION OF VALUE FOR SELECTED ASSETS WHILE RETAINING LONG TERM 
EXPOSURE TO WEST RAND TAILINGS RETREATMENT PROJECT (WRTRP) 
ASSETS AND GROWTH IN DRDGOLD 
    * TRANSACTION IS EXPECTED TO CLOSE IN Q2 OF 2018 CALENDAR 
YEAR 
 
Source text for Eikon:  urn:newsml:reuters.com:*:nJseV0005a 
Further company coverage:  SGLJ.J  
 
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