Sibanye-Stillwater nears $1B deal to buy Brazil nickel, copper projects - WSJ

Ivan Boryshchak/iStock via Getty Images

• Sibanye-Stillwater (NYSE:SBSW) is in advanced talks to buy two Brazilian miners for ~$1B including debt, The Wall Street Journal reports, as global miners race to secure stocks of key metals used in electric car batteries.
• Sibanye-Stillwater would acquire Atlantic Nickel, which operates one of the world's biggest open-pit nickel sulfide mines, and Mineracao Vale Verde, which is developing a copper-and-gold mine, according to the report.
• The Santa Rita nickel-cobalt mine in Brazil, which restarted production in 2019 out of bankruptcy, has an estimated processing capacity of 6.5M metric tons/year of ore.
• Teck Resources (NYSE:TECK) has been mentioned as a potential buyer of Atlantic Nickel from London-based P-E fund Appian Capital.
• Many metals, including nickel, have been hitting multiyear highs recently as supply chain constraints hinder their movement.