South Africa’s DRDGold said on Wednesday its shareholders voted in favour of all resolutions relating to the firm’s proposed acquisition of assets from Sibanye-Stillwater.
Sibanye-Stillwater in November announced plans to exchange some surface gold processing assets and tailings storage facilities (TSF) for a 38% stake in DRDGold worth R1.3 billion ($111.13 million).
“This transaction is a step-change for DRDGold. We have doubled our reserves and secured infrastructure to access these very quickly. After many years of consolidation this is a major advance towards growing our company,” DRDGold Chief Executive Niël Pretorius said in a statement.
($1 = 11.6984 rand)