Sibanye-Stillwater Acquires Metallix Refining to Expand Global Precious Metals Recycling

Strategic Move to Strengthen Precious Metals Recycling

Sibanye-Stillwater Group, based in Johannesburg, has agreed to acquire Metallix Refining Inc. for $82 million. The U.S.-based recycler specializes in recovering precious metals like gold, silver, and PGMs from industrial waste streams. This acquisition strengthens Sibanye-Stillwater’s U.S. and global footprint in recycled precious metals processing.

Metallix operates advanced recycling facilities in Greenville, North Carolina, and recently introduced new furnace technology. With over 60 years of industry experience, Metallix processed 4.2 million pounds of precious metal-bearing material in 2024. This included more than 870,000 ounces of silver, 48,000 ounces each of platinum and palladium, and 263,000 pounds of copper.

Sibanye-Stillwater views the deal as highly synergistic. It enhances the group’s existing U.S. recycling network in Montana and Pennsylvania. The company expects Metallix’s proprietary technology and global customer base to immediately contribute to its earnings and strengthen its urban mining strategy.

Sibanye-Stillwater Expands U.S. and Global Reach

Sibanye-Stillwater has operated in the U.S. since 2017, following its acquisition of Stillwater Mining Co. in Montana. It also bought Abington Reldan Metals in Pennsylvania earlier this year. Adding Metallix now boosts its processing capacity and reinforces its recycling presence in North America.

The South African firm describes the acquisition as a step toward delivering end-to-end recycling solutions. Metallix also serves international clients through locations in the UK and South Korea. By adding scale and technology, the acquisition supports Sibanye-Stillwater’s broader circular economy and logistics capabilities.

CEO Neal Froneman highlighted the transaction as a strategic advance for the company’s urban mining ambitions. He noted that synergies between Metallix and existing operations will generate immediate value. With regulatory approval pending, the transaction is expected to close in Q3 2025.

SuperMetalPrice Commentary:

Sibanye-Stillwater’s acquisition of Metallix reflects the growing strategic importance of precious metals recycling. As demand for PGMs and copper rises globally—driven by EVs, AI infrastructure, and clean tech—recyclers play a critical supply chain role. This move solidifies Sibanye-Stillwater’s dominance in North American recycling and affirms the long-term value of urban mining in securing critical materials. For investors and supply chain leaders, this signals a clear pivot from traditional mining to integrated, closed-loop material sourcing.