Sibanye-Stillwater today re-listed on the Main Board of the JSE.  Itumeleng English African News Agency (ANA)
Sibanye-Stillwater today re-listed on the Main Board of the JSE. Itumeleng English African News Agency (ANA)

Sibanye-Stillwater re-lists on the JSE

By Dineo Faku Time of article published Feb 19, 2020

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JOHANNESBURG - Sibanye-Stillwater today re-listed on the Main Board of the JSE in the basic resources sector, making it the first listing on the JSE in 2020 and contributing towards a market capitalisation of R534 billion in the platinum and precious metals sub-sector on the JSE.

Valdene Reddy, Director of Capital Markets at the JSE said: “Sibanye-Stillwater, has been a long-standing client of the JSE and it is an honour to see the company grow and diversify to be a global leader in the precious metals industry.”

The re-listing comes after the group acquired 100 percent of the Sibanye Gold Limited.

Sibanye was created in 2013 after Gold Fields hived off its ageing South African gold mines Kloof, Driefontein and Beatrix and has grown into a leading international precious metals mining company, with a diverse portfolio of platinum group metal (PGM) operations in the United States and Southern Africa.
Sibanye-Stillwater chief executive, Neal Froneman said, the last seven years had proved to be an exciting journey of strategic growth with the company’s market capitalization increasing over 10-fold since listing.

"We listed as a R10 billion South African gold producer in 2013 and now, in 2020, almost seven years to the day that we listed, we are a leading global precious metals producer with a market capitalization of nearly R120 billion –in fact I understand that we rocketed into the top half of the JSE top 40 index just the other day, which is a remarkable achievement given where we have come from.”

BUSINESS REPORT ONLINE 

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