off-the-wire

Sibanye-Stillwater not interested in gold M&A, CEO says

Kitco Media
By Reuters
Published:
Updated:
Reuters
CAPE TOWN, Feb 6 (Reuters) - Sibanye-Stillwater is not interested in gold mergers and acquisitions, CEO Neal Froneman said on Monday, after Newmont's $16.9 billion bid for Newcrest increased the pressure on gold miners to consolidate.


Froneman, a seasoned dealmaker, said he had "moved on" from the idea he floated two years ago of merging Sibanye with South African peers Gold Fields and AngloGold Ashanti to create a South African gold mining "champion".


Speaking on the sidelines of the Investing in Africa Mining Indaba in Cape Town, Froneman said he was focused on building a "geographically diverse green metals company".


Newmont has offered to buy Australia's Newcrest in an all-share bid valuing it at $16.9 billion. (Reporting by Helen Reid; Editing by Kirsten Donovan)

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