Sibanye-Stillwater Creates JV With Ioneer for US Lithium-Boron Project
September 16 2021 - 2:21AM
Dow Jones News
By Sabela Ojea
Sibanye-Stillwater Ltd. said Thursday that it has created a
joint venture with ioneer Ltd. for the U.S.-based Rhyolite Ridge
Lithium-Boron project.
The South African mining company said it has also agreed to
subscribe for a placement of shares in ioneer equal to 7.1% of the
Australian mining development company's ordinary share capital.
The placement is valued at around $70 million at an issue price
of 655 Australian cents (48 U.S. cents) a share, it said.
Sibanye-Stillwater said it will contribute $490 million for a
50% interest in the joint venture, while ioneer will retain
operational management responsibility.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
September 16, 2021 02:06 ET (06:06 GMT)
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