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    SSW   ZAE000259701

SIBANYE STILLWATER LIMITED

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Sibanye CEO floats merger idea with Gold Fields, AngloGold Ashanti -report

03/08/2021 | 12:51pm EDT

JOHANNESBURG, March 8 (Reuters) - Sibanye-Stillwater should merge with peers Gold Fields and AngloGold Ashanti to create a gold mining leader which would beat Newmont to the top spot, the miner's CEO Neal Froneman told South African newspaper Business Day on Monday.

"I think there are three high quality SA companies that should be put together," the article quoted Froneman as saying. Consolidation was necessary if South Africa-domiciled companies were to compete at a global level, he said.

Sibanye, the world's biggest platinum producer, also produces gold from three mines in South Africa, and has a majority stake in gold miner DRDGOLD. Sibanye's own mines produced 809,877 ounces of gold in 2020.

"We've been saying for some time that we've been looking to expand our gold portfolio internationally," said Sibanye-Stillwater spokesman James Wellsted.

"To achieve proper diversification, we need to buy something of 1 million ounces plus," he said, declining to comment on AngloGold Ashanti or Gold Fields specifically.

AngloGold Ashanti exited South Africa last year and operates in Democratic Republic of Congo, Ghana, Guinea, and Tanzania, as well as Australia and South America. It produced 3.05 million ounces of gold in 2020.

An AngloGold Ashanti spokesman said: "We have outlined our growth plan to unlock value from our global portfolio of gold assets. We are focused on delivering on this strategy, which we believe will deliver the most value for our shareholders."

A Gold Fields spokesman said the company would not comment on market speculation. Gold Fields, which mines in South Africa, Ghana, Australia, and Peru, produced 2.236 million ounces of gold in 2020.

Based on 2020 production, a three-way combination would create the world's biggest gold miner, ahead of sector leader Newmont, which produced 5.9 million ounces last year.

(Reporting by Helen Reid; editing by David Evans)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ANGLOGOLD ASHANTI LIMITED 0.02% 291.58 End-of-day quote.-14.87%
DOW JONES AFRICA TITANS 50 INDEX 0.09% 526.7 Delayed Quote.-0.66%
DOW JONES SOUTH AFRICA(ZAR) 0.16% 1910.48 Delayed Quote.8.15%
DRDGOLD LIMITED -2.03% 10.375 Delayed Quote.-9.72%
GOLD -0.43% 1803.49 Delayed Quote.-4.58%
MSCI PERU (GDTR) -1.25% 4669.897 Real-time Quote.-25.80%
S&P AFRICA 40 INDEX -0.18% 170.96 Delayed Quote.-1.02%
S&P GSCI GOLD INDEX -0.61% 1051.1763 Delayed Quote.-4.25%
SIBANYE STILLWATER LIMITED 0.65% 63.85 End-of-day quote.6.42%
SILVER -0.56% 25.22 Delayed Quote.-3.02%
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Financials
Sales 2021 177 B 12 290 M 12 290 M
Net income 2021 52 048 M 3 615 M 3 615 M
Net cash 2021 35 248 M 2 448 M 2 448 M
P/E ratio 2021 3,58x
Yield 2021 9,87%
Capitalization 187 B 13 007 M 13 010 M
EV / Sales 2021 0,86x
EV / Sales 2022 0,74x
Nbr of Employees 66 275
Free-Float -
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Mean consensus BUY
Number of Analysts 11
Last Close Price 63,85 ZAR
Average target price 92,00 ZAR
Spread / Average Target 44,1%
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Managers and Directors
Neal John Froneman Chief Executive Officer & Executive Director
Charl Keyter Chief Financial Officer & Executive Director
Thabane Vincent Maphai Chairman
Robert van Niekerk Chief Technical Officer
Richard A. Stewart Chief Operating Officer
Sector and Competitors