New Century Resources Limited (Ticker ASX: NCZ) (New Century) through a new equity placement, and
sub-underwriting of a New Century entitlement offer, for a maximum cash consideration of US$46 million1
in the "Transaction details" section) subject to approval by New Century shareholders.
Century tailings zinc retreatment operations in Queensland, Australia and is listed on the Australian
Securities Exchange. The Century zinc operations were placed on care and maintenance in 2016 following
depletion of the original open pit in-situ reserves after producing and processing on average 475ktpa zinc
and 50ktpa lead concentrate for 16 years. New Century converted existing processing infrastructure to
enable re-processing of legacy tailings waste dumps. The infrastructure refurbishment was completed in
August 2018 and the operations have been re-processing tailings since.
1,473kt contained Zn)
Zn for 1,604kt contained Zn)
to 2030+
US$0.89/lb Zn(2)(3)
financial information or plans - is extracted from publicly available information about New Century. Sibanye‐Stillwater has not independently verified such information,
and, to the maximum extent permitted by law, makes no representation or warranty, express or implied, as to the fairness, accuracy, correctness, completeness or
adequacy of any information in relation to New Century.
Australia and is focused on expanding the business by providing best-in-class advisory services to large-
scale, tailings reprocessing and rehabilitation operations in Australia and globally.
value for our stakeholders while enhancing its profile as a premier, global tailings retreatment leader,
uniquely positioned to play a key role in future supply chains for a sustainable circular economy.
basis, given the ability to own 19.99% of a high-quality tailings retreatment business in Australia and
complements our existing investment in DRDGOLD Limited (DRDGOLD) in South Africa. As New Century
develops its environmental liability management advisory service to large mining clients globally, and on
the back of increased scale and visibility, we expect New Century to benefit from a re-rating in line with
recyclers and waste management providers. Therefore, the investment itself is expected to have
embedded re-rating potential as New Century grows and develops its strategy with the assistance of
Sibanye-Stillwater as a partner.
DRDGOLD in November 2017 by vending selected gold surface reprocessing assets and currently owns
50.7% in DRDGOLD. The investment in New Century allows Sibanye-Stillwater to expand on the success of
its investment in DRDGOLD in another tier-1 mining jurisdiction and to build a global platform for tailings
retreatment with associated complementary partnerships.
into Australia, a high-quality international mining jurisdiction.
across Sibanye-Stillwater's various investment platforms, further advancing Sibanye-Stillwater as a global,
ESG-focused industry leader in tailings reprocessing.
copper production, large scale tailings reprocessing and rehabilitation. Through this investment Sibanye-
Stillwater further increases its exposure to green metals.
Century through a phased equity investment program (expected to be completed in December 2021) in
line with New Century's announced capital raising timetable
issue price of A$0.155 per share. This represents a 0% discount to New Century's market close on
30 September 2021 (being the last trading day in New Century shares before the date of this announcement),
for a total consideration of up to US$46 million(1). The phased equity investment program will comprise an
Stillwater of a New Century entitlement offer, and a conditional placement to Sibanye-Stillwater subject
to the approval of New Century shareholders (Conditional Placement).
approvals (including South African Reserve Bank and Australian Foreign Investment Review Board) have
been received for the Transaction. The Conditional Placement (only) remains subject to the approval of
New Century shareholders at its Annual General Meeting planned to be held in November 2021.
represents a significant next step in our strategy of building a leading global tailings retreatment business,
climate change resilient business.
globally significant zinc producing business through the reprocessing of tailings, whilst facilitating the
rehabilitation of an old mine site.
Lyell and support their vision of growing their Tailings Management advisory service business model
globally, to produce green metals and address environmental legacy issues."
James Wellsted
Head of Investor Relations
Tel: +27 (0) 83 453 4014
Website: www.sibanyestillwater.com
Sponsor: J.P. Morgan Equities South Africa Proprietary Limited
Advisors and counsel
Financial Advisor: Citigroup Global Markets Limited
Legal Advisors: Ashurst and Webber Wentzel
FORWARD LOOKING STATEMENTS
including, among others, those relating to Sibanye Stillwater Limited's ("Sibanye-Stillwater" or the "Group") financial
risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking
factors, including those set forth in this report.
"anticipate" and words of similar meaning. By their nature, forward-looking statements involve risk and uncertainty
statements.
materially from estimates or projections contained in the forward-looking statements include, without limitation,
political and social conditions in South Africa, Zimbabwe, the United States and elsewhere; plans and objectives of
difficulties in obtaining additional financing or refinancing; Sibanye-Stillwater's ability to service its bond instruments;
tailings storage facility; the ability to achieve anticipated efficiencies and other cost savings in connection with, and
strategy and exploration and development activities; the ability of Sibanye-Stillwater to comply with requirements
downgrade of South Africa's credit rating; a challenge regarding the title to any of Sibanye-Stillwater's properties by
of capital or credit; changes in the imposition of regulatory costs and relevant government regulations, particularly
consequence of any potential or pending litigation or regulatory proceedings or environmental, health or safety
controls over financial reporting; the effect of US tax reform legislation on Sibanye-Stillwater and its subsidiaries; the
constraints and cost increases; supply chain shortages and increases in the price of production inputs; the regional
unplanned maintenance; Sibanye-Stillwater's ability to hire and retain senior management or sufficient technically
adequacy of Sibanye-Stillwater's insurance coverage; social unrest, sickness or natural or man-made disaster at
HIV, tuberculosis and the spread of other contagious diseases, such as the coronavirus disease (COVID-19). Further
Integrated Annual Report 2020 and the Annual Report on Form 20-F for the fiscal year ended 31 December 2020.
obligation or undertaking to update or revise any forward-looking statement (except to the extent legally required).
These forward-looking statements have not been reviewed or reported on by the Group's external auditors.
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Sibanye Stillwater Limited published this content on 27 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 October 2021 11:37:06 UTC.