Mining

Sibanye calls for mega-merger with AngloGold, Gold Fields

Sibanye Stillwater (JSE: SGL; NYSE: SBGL) said on Monday that South Africa’s top gold miners should merge and create a rival to the […]

By Canadian Mining Journal Staff March 8, 2021 At 11:50 am

Sibanye calls for mega-merger with AngloGold, Gold Fields

Sibanye Stillwater said AngloGold Ashanti and Gold Fields Ltd. both fit with the company’s acquisition strategy. (Image courtesy of Sibanye Stillwater.)

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Sibanye Stillwater (JSE: SGL; NYSE: SBGL) said on Monday that South Africa’s top gold miners should merge and create a rival to the world’s largest producers, Newmont (NYSE: NEM) and Barrick Gold (TSE: ABX; NYSE: GOLD), or risk being acquired.

Chief executive Neal Froneman said he believed that combining his company with Gold Fields (JSE, NYSE: GFI) and AngloGold (JSE: ANG; NYSE: AU) would be in South Africa’s national interest, Johannesburg-based Business Day reported.

Sibanye, formed by spinning off Gold Fields’ oldest South African mines in 2013, has been growing the business since.

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