Sibanye-Stillwater acquires Reldan Group to expand recycling operations

  • Stock Market News
Sibanye-Stillwater acquires Reldan Group to expand recycling operations
Credit: © Reuters.

Sibanye-Stillwater, a South African mining firm, announced its acquisition of the Pennsylvania-based metals recycler, Reldan Group. The deal, valued at $211.5 million with a cash purchase consideration of $155.4 million, is expected to close in the first quarter of next year. This acquisition is part of Sibanye-Stillwater's strategy to bolster its recycling operations in Montana and broaden its influence in the circular economy.

Reldan Group, with subsidiaries in Mexico and India, specializes in the recycling of green precious metals from industrial and electronic waste. In 2022, the company processed approximately 23 million pounds of waste, generating significant quantities of gold, silver, palladium, platinum, and copper . The company reported a revenue of $371 million and an EBITDA of $42 million last year.

The acquisition aligns with Sibanye-Stillwater's commitment to sustainability and its goal of achieving net zero emissions. Neal Froneman, CEO of Sibanye-Stillwater, expressed optimism about the acquisition and praised Reldan's environmental standards. The transaction is still subject to shareholder approval.

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