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Sibanye provides $200m financial assistance to Thor US Holdco

Sibanye CEO Neal Froneman

Sibanye CEO Neal Froneman

Photo by Duane Daws

5th June 2017

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

     

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JOHANNESBURG (miningweekly.com) – JSE- and NYSE-listed Sibanye Gold on Monday announced that it would provide $200-million in financial assistance to indirectly wholly owned subsidiary Thor US Holdco.

The gold miner’s $200-million advance will enable US platinum producer Stillwater Mining Company (SWC), which is a wholly owned subsidiary of US Holdco, to settle certain convertible notes.

In December, Sibanye, which is led by CEO Neal Froneman, entered into a definitive agreement to acquire all of the outstanding common stock of SWC for $2.2-billion, with the transaction concluded in May.

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