Sibanye Stillwater Limited (JSE : SSW) agreed to acquire additional 20% stake in Keliber Oy from Nordic Mining ASA (OB : NOM) for Ç46.9 million on June 30, 2022. Funds from the sale are unrestricted and will be contributed as equity towards the project financing package for the Engeb° Rutile and Garnet Project, which is expected to be in excess of USD 250 million comprising of debt, equity and potential hybrid capital or royalty. As of August 15, 2022, Nordic Mining announced the sale is expected to close in Q3 2022. The Voluntary Offer remain subject to condition that no material adverse change has occurred before completion of the sale.
Sibanye Stillwater Limited (JSE : SSW) completed the acquisition of additional 20% stake in Keliber Oy from Nordic Mining ASA (OB : NOM) on September 15, 2022. The transfer of shares and settlement of the cash consideration will take place within 5 business days. Following the sale, Nordic Mining holds no shares in Keliber.