Sibanye-Stillwater buys US precious metals recycler Metallix for $82m

Sibanye-Stillwater announced on 21 July 2025 that it would acquire Metallix Refining, a US company that recovers precious metals from industrial waste, for $82m in cash, about R1.5bn at the time.

What it buys

Metallix has been operating for 60 years and runs two processing and recycling plants in Greenville, North Carolina, with customers served from further facilities in the United Kingdom and South Korea. In 2024 it recovered about 21,000 ounces of gold, 874,000 ounces of silver, 48,000 ounces each of palladium and platinum, 4,000 ounces of rhodium, 3,000 ounces of iridium and 263,000 pounds of copper. Miningmx described it as a profitable business.

The deal adds to Reldan, the Pennsylvania-based recycler Sibanye bought in 2024 for $155.9m, and to the autocatalyst recycling Sibanye already runs at its Stillwater operations in Montana. Then chief executive Neal Froneman said Metallix would bring scale, technology and know-how, as well as synergies with the existing recycling businesses.

Completion and context

The transaction was completed in early September 2025. Sibanye's shares rose more than 5% in New York on the day of the announcement.

For the Johannesburg-based group, recycling is a way to stay in the PGM value chain with less capital and fewer safety and labour risks than deep-level mining in South Africa. The purchase came after two difficult years of restructuring and job cuts at its South African PGM and gold operations while prices were weak, and it signalled a return to outward-looking growth as metal prices recovered. Sibanye has since changed its leadership, with Richard Stewart named to succeed Froneman as chief executive in October 2025.

Sources

• MINING.COM: Sibanye-Stillwater buys US precious metals recycler Metallix, 21 Jul 2025
• Miningmx: Sibanye-Stillwater extends US recycling with $82m Metallix deal, 21 Jul 2025
• Swiss Resource Capital: Sibanye-Stillwater completes the acquisition of Metallix, 09 Sept 2025
• Business Report: Sibanye-Stillwater announces leadership changes with Richard Stewart as CEO, 01 Oct 2025