Sibanye-Stillwater to acquire Eramet’s Sandouville nickel processing facilities in France for €65 million
(Kitco News) - Sibanye-Stillwater (NYSE: SBSW) announced Friday that it has entered into an exclusive put option agreement with French mining group Eramet for the acquisition of 100% of the Sandouville nickel hydrometallurgical processing facility, located in Normandy, France for an effective cash cost of circa €65 million.
The Sandouville facility is situated in the industrial heart of Europe at Le Havre, France’s second largest industrial port, with strategic access to extensive logistical infrastructure including shipping, rail and key motorways, supporting any future supply into the European end user markets.
The current Sandouville facilities include a hydrometallurgical nickel refinery with a production capacity of 12,000 tonnes per annum of high-purity nickel metal, 4,000 tonnes per annum of high-purity nickel salts and solutions and around 600 tonnes per annum of cobalt chloride.
The company said that the transaction is the second step in Sibanye-Stillwater’s battery metals strategy, building on the investment in the Keliber lithium hydroxide project, in partnership with the State of Finland and the Finnish Minerals Group, announced in February 2021.
CEO Neal Froneman said, “We are delighted to progress with this second step in our battery metals strategy, which is an important step in getting further downstream exposure to the battery metals value chain. The Sandouville facility is ideally located close to the European end-user markets and well supported by significant logistical infrastructure, which will allow us to leverage our existing Platinum Group Metals relationships. We look forward to working with Eramet and the French authorities to build a leading battery metals platform in Europe.”
Sibanye-Stillwater is a leading international precious metals mining company, with a diverse portfolio of platinum group metal operations in the United States and Southern Africa, gold operations and projects in South Africa, and copper, gold and PGM exploration properties in North and South America.