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2021-09-16

Sibanye Stillwater buys half of ioneer's Nevada lithium project in $490 million deal

Sept 15 (Reuters) - Sibanye Stillwater Ltd is buying half of ioneer Ltd's Nevada lithium mine projec

Sibanye Stillwater buys half of ioneer's Nevada lithium project in $490 million deal

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It also reflects rising concerns that, without more investment, demand for the white metal could far outstrip supply and delay efforts to combat climate change.</p>\n<p>Australia-based ioneer said it will form a joint venture with the South African miner to develop the Rhyolite Ridge mine, roughly 220 miles (355 km) north of Las Vegas.</p>\n<p><a href=\"https://laohu8.com/S/INR.AU\">Ioneer</a> will remain the project's operator and tap Sibanye's experience as the world's largest miner of platinum group metals (PGMs) to develop the project, which also has a large supply of boron, used in soaps and other consumer goods.</p>\n<p>\"Rhyolite Ridge is a world-class lithium project and we recognize its strategic value, with the potential to become the largest lithium mine in the U.S.,\" said Sibanye Chief Executive Neal Froneman.</p>\n<p>The entire project is expected to cost about $850 million. Both companies said they will now work to secure debt financing to fund the rest of the project. Ioneer said it expects financing, as well as necessary permits, by the end of next year. The project is expected to open by the end of 2024.</p>\n<p>Sibanye, which operates mines across South Africa and in Montana, will also buy $70 million worth of ioneer shares.</p>\n<p>Should ioneer expand operations to a nearby lithium deposit, Sibanye will have the option to pay $50 million to secure a half stake in that project.</p>\n<p>The deal is the second major lithium investment by Sibanye this year. In February, the company bought roughly a third of Finnish lithium company Keliber Oy.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sibanye Stillwater buys half of ioneer's Nevada lithium project in $490 million deal</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSibanye Stillwater buys half of ioneer's Nevada lithium project in $490 million deal\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-09-16 07:59</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Sept 15 (Reuters) - Sibanye Stillwater Ltd is buying half of ioneer Ltd's Nevada lithium mine project for $490 million, <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the largest deals ever for U.S. supply of the electric vehicle battery metal as demand is poised to soar later this decade.</p>\n<p>The investment is a vote of confidence in American lithium projects despite recent pushback from environmentalists.</p>\n<p>regulators and others. It also reflects rising concerns that, without more investment, demand for the white metal could far outstrip supply and delay efforts to combat climate change.</p>\n<p>Australia-based ioneer said it will form a joint venture with the South African miner to develop the Rhyolite Ridge mine, roughly 220 miles (355 km) north of Las Vegas.</p>\n<p><a href=\"https://laohu8.com/S/INR.AU\">Ioneer</a> will remain the project's operator and tap Sibanye's experience as the world's largest miner of platinum group metals (PGMs) to develop the project, which also has a large supply of boron, used in soaps and other consumer goods.</p>\n<p>\"Rhyolite Ridge is a world-class lithium project and we recognize its strategic value, with the potential to become the largest lithium mine in the U.S.,\" said Sibanye Chief Executive Neal Froneman.</p>\n<p>The entire project is expected to cost about $850 million. Both companies said they will now work to secure debt financing to fund the rest of the project. Ioneer said it expects financing, as well as necessary permits, by the end of next year. The project is expected to open by the end of 2024.</p>\n<p>Sibanye, which operates mines across South Africa and in Montana, will also buy $70 million worth of ioneer shares.</p>\n<p>Should ioneer expand operations to a nearby lithium deposit, Sibanye will have the option to pay $50 million to secure a half stake in that project.</p>\n<p>The deal is the second major lithium investment by Sibanye this year. In February, the company bought roughly a third of Finnish lithium company Keliber Oy.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"INR.AU":"IONEER LTD","SBSW":"Sibanye Gold Limited"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2167590142","content_text":"Sept 15 (Reuters) - Sibanye Stillwater Ltd is buying half of ioneer Ltd's Nevada lithium mine project for $490 million, one of the largest deals ever for U.S. supply of the electric vehicle battery metal as demand is poised to soar later this decade.\nThe investment is a vote of confidence in American lithium projects despite recent pushback from environmentalists.\nregulators and others. It also reflects rising concerns that, without more investment, demand for the white metal could far outstrip supply and delay efforts to combat climate change.\nAustralia-based ioneer said it will form a joint venture with the South African miner to develop the Rhyolite Ridge mine, roughly 220 miles (355 km) north of Las Vegas.\nIoneer will remain the project's operator and tap Sibanye's experience as the world's largest miner of platinum group metals (PGMs) to develop the project, which also has a large supply of boron, used in soaps and other consumer goods.\n\"Rhyolite Ridge is a world-class lithium project and we recognize its strategic value, with the potential to become the largest lithium mine in the U.S.,\" said Sibanye Chief Executive Neal Froneman.\nThe entire project is expected to cost about $850 million. Both companies said they will now work to secure debt financing to fund the rest of the project. Ioneer said it expects financing, as well as necessary permits, by the end of next year. The project is expected to open by the end of 2024.\nSibanye, which operates mines across South Africa and in Montana, will also buy $70 million worth of ioneer shares.\nShould ioneer expand operations to a nearby lithium deposit, Sibanye will have the option to pay $50 million to secure a half stake in that project.\nThe deal is the second major lithium investment by Sibanye this year. 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