Sibanye-Stillwater would also announce whether it would proceed with an investment in Rhyolite Ridge, a lithium-boron project in the US. Froneman said his executive team would submit a recommendation to the investment committee in a few weeks.
“If we go ahead with Rhyolite Ridge we will fund it separately. We don’t know how, but it won’t involve shares or equity,” said Froneman.
US authorities recently approved an environmental permit for the mine which means Sibanye-Stillwater has to decide if it should exercise a $490m option to help build the project with Australian partner, Ioneer.
“I’ve said previously we won't be a dinosaur. We have continued our pivot into battery metals and two projects [Keliber and Rhyolite Ridge] are steps in this regard. We could have gone back to being PGM producer. But that is not us,” he said.
Gw
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