Sibanye share price rises on gold tailings deal with DRDGold

The share price of Sibanye-Stillwater rose quickly and sharply on Wednesday on the news that the precious metals company had moved to create an industry-leading surface mining partnership with gold tailings retreatment company DRDGold. The proposed transaction, which saw the share price of Sibanye lift 3.65% to a  59c-higher R18.73 a share by early afternoon and the share price of DRDGold decline by a slight 0.81% to a 4 c-lower R4.92 c a share, involves Sibanye vending selected West Rand Tailings Retreatment Project (WRTRP) surface processing assets and tailings storage facilities into DRDGold for a 38% slice of the JSE-listed surface mining company’s ordinary share capital, which as at Tuesday was valued at R1.3-billion.