Sibanye-Stillwater has announced it will acquire US precious metals recycler Metallix Refining in a deal valued at $82 million in cash, with an enterprise value of $105 million. The acquisition will expand the group’s global recycling operations and increase its visibility in the United States.
Metallix is based in Greenville, North Carolina, where it recovers precious metals like gold, silver, platinum, and palladium from industrial waste. It runs two processing facilities in the state and supplies customers in the United States, the United Kingdom and South Korea. With more than 60 years of experience, the company is well established in the precious metals recycling industry.
In 2024, Metallix processed around 4.2 million pounds of waste material and recovered approximately 21,000 ounces of gold, 874,000 ounces of silver, 48,000 ounces each of palladium and platinum, along with smaller volumes of rhodium, iridium, and copper.
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Sibanye stated in a press release that the acquisition will support its recycling operations in Montana and Pennsylvania by bringing in additional capacity, specialist knowledge and proprietary technology. The group expects the deal to boost its ability to source materials from different regions and improve its logistics network.
According to the company, Metallix has posted positive earnings and cash flow, and the acquisition is expected to contribute to the group’s financial performance immediately.
“We are excited to be adding Metallix to our existing recycling footprint,” said Sibanye-Stillwater CEO Neal Froneman. “The scale, technology and know-how adds positively to our existing recycling operations and advances our urban mining strategy. We expect significant value uplift through the large number of synergies with our existing recycling operations.”
The transaction is expected to close in the third quarter of 2025, pending regulatory approvals. The company also mentioned that the deal is not classified as a categorised transaction under JSE Limited Listings Requirements, and the company has voluntarily disclosed the deal.
