Platinum Sibanye-Stillwater: Restructuring to Lower Costs and Fresh Capital for Growth
Posted: Fri Dec 22, 2023 8:44 am
Sibanye-Stillwater announced to its employees and contractors that the company will be restructuring its US PGM operations to reduce its operating and capital cost structure and ensure sustainability in a lower palladium price environment. In order to have sufficient funds for growth and new technologies, Sibanye-Stillwater issues convertible bonds to the value of half a billion US$. It is expected that the proceeds will be used to further develop the Group's growth strategy, including funding the acquisition of Reldan announced on November 9, 2023, while maintaining the current balance sheet to fund existing operations and projects in a lower commodity price environment. / via @swissresourceag
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