Sibanye-Stillwater has strengthened its US operations with the $82 million acquisition of North Carolina-based Metallix Refining, a specialist in recycling precious metals from industrial waste. The deal provides the South African mining giant with additional processing capacity and proprietary technology, boosting its global recycling capabilities. CEO Neal Froneman highlighted the strategic value of the purchase, noting significant synergies with Sibanye’s existing recycling business.
The move comes as Sibanye positions itself to benefit from US policies favouring domestic critical mineral production. With platinum and palladium classified as essential for America’s clean energy transition, the company’s US operations gain added protection from escalating trade tensions between Washington and Pretoria. The Inflation Reduction Act further supports Sibanye’s position by offering a 10% production cost rebate for critical minerals.
Unlike many South African exporters, Sibanye has avoided the worst of recent US tariffs, thanks to its dual presence in both countries and the exempt status of precious metals. The company’s shares have surged 182% since December, driven by record gold prices, strong PGM performance, and European recognition of its lithium and battery projects as strategically important for the continent’s energy transition.
This acquisition marks another step in Sibanye’s transformation from a traditional miner into a diversified resources group with global recycling capabilities. The deal not only expands its American footprint but also provides insulation against geopolitical trade risks while capitalising on growing demand for sustainably sourced critical minerals in both the US and EU markets.