Table of Contents
Key Points
- Sibanye acquires North Carolina-based Metallix to expand recycling capabilities and cut reliance on traditional precious metal mining.
- The $82 million deal aligns with Sibanye’s strategic shift into sustainable metal recovery and circular economy growth.
- Froneman’s latest move supports decarbonization goals and secures strategic access to North America’s secondary platinum group metals market.
Sibanye-Stillwater, led by South African executive Neal Froneman, has acquired U.S.-based precious metals recycler Metallix Refining Inc. for $82 million, advancing its shift toward the circular economy and expanding its North American footprint.
Completed through subsidiary Stillwater Inc., the deal bolsters Sibanye’s refining assets in Montana and supports its decarbonization drive. It also accelerates the group’s strategic pivot from traditional mining to sustainable metal recovery.
Strategic play in the circular economy
Based in Greenville, North Carolina, Metallix specializes in the recycling of precious metals such as platinum, palladium, and rhodium from industrial scrap materials. With more than 50 years in operation and a strong client base across North America and Asia, Metallix processes over 150 tonnes of materials monthly at its 20-acre facility.
The acquisition aligns with Sibanye-Stillwater’s long-term strategy to grow its presence in the urban mining sector, leveraging secondary sources of PGMs (platinum group metals) while reducing the environmental impact tied to traditional mining.
“This investment enhances our presence in the U.S., secures a foothold in the growing recycled metals market, and supports our strategic goal of developing a circular PGM business,” said CEO Neal Froneman. The transaction comes as Sibanye-Stillwater intensifies its pivot from carbon-intensive mining to future-facing metals and sustainable operations.
Pivoting to a greener, global future
Under CEO Neal Froneman, Sibanye-Stillwater is scaling beyond South Africa, with strategic bets on gold and battery metals across the Americas. Amid mounting global pressure to decarbonize and diversify, the group is positioning to lead—not follow.
Froneman, who has led the company since its 2013 inception and owns over 3.2 million shares, equivalent to 0.12 percent stake, envisions a vertically integrated green metals powerhouse with earnings resilient across commodity cycles.
The $82 million Metallix deal is the latest in nearly a dozen acquisitions under his watch, marking another move in Sibanye’s evolution from a single-asset gold miner to a multinational leader in sustainable precious and battery metals—just as Froneman approaches retirement.
