By Jaime Llinares Taboada
Sibanye-Stillwater Ltd. said Friday that it will acquire a nickel-processing facility in France for 65 million euros ($77.3 million) from Eramet SA.
The South African mining company said it has entered into an exclusive put option agreement for the acquisition of the Sandouville nickel hydrometallurgical processing facility in Le Havre, France's second-largest industrial port.
Sandouville includes a nickel refinery with a production capacity of 12,000 metric tons per year of nickel metal, 4,000 tons of nickel salts and solutions, and around 600 tons of cobalt chloride.
"The site is scaleable for nickel, cobalt and lithium battery grade products, and will enable Sibanye-Stillwater to further advance its battery metals strategy and recycling activities," Sibanye-Stillwater said.
The deal is expected to conclude by the end of the year.
Write to Jaime Llinares Taboada at firstname.lastname@example.org; @JaimeLlinaresT
(END) Dow Jones Newswires