Sibanye-Stillwater Makes Takeover Bid for New Century
The offer implies an equity value for New Century of $103 million. In the event that Sibanye-Stillwater acquires all of the securities in New Century that it does not already own, Sibanye-Stillwater will pay up to $83 million.
New Century operates Australia’s largest hydraulic mine at the Century mine in Queensland; extracting, processing and marketing zinc recovered from historical tailings. New Century is actively progressing life extension opportunities at Century and studying the potential to restart copper production at the Mt Lyell copper mine in Tasmania.