Valery Budny: There is no strategy and legislation in Russia enabling the full cycle processing of precious raw materials within the country

Valery Budny, Head of the Jewelry Russia program and CEO of the JUNWEX media holding, told Rough&Polished about the results of the meeting and pressing issues in the precious metals and precious stones (PMPS) and the jewelry sectors.

11 april 2024

Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

New York-based independent diamond and jewellery analyst and consultant Paul Zimnisky told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the industry should do away with discounts. He said the industry should treat natural diamonds...

01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

In an exclusive interview with Rough&Polished's Mathew Nyaungwa, Edahn Golan, proprietor of the eponymous Edahn Golan Diamond Research and Data, predicted that the prices of lab-grown diamonds would continue to decline, especially at the retail and...

25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

The African Diamond Producers Association (ADPA), which has openly registered its disdain for the G7’s rough diamond trade restrictions, is of the opinion that the move will bring extra costs on all stages, from mining to retail. ADPA executive...

18 march 2024

Eduard Gorodetsky: Currently we see high demand for synthetic diamonds for use in technology segment rather than in jewelry

Director General of the Advanced Synthetic Research Center Eduard Gorodetsky told Rough&Polished about the current situation at the company, new exclusive technologies in the synthesis and production of lab-grown crystals, as well as the Research Center’s...

11 march 2024

Sibanye-Stillwater issues $500 million senior unsecured convertible bonds due 2028

22 november 2023

Sibanye-Stillwater says its indirect, wholly-owned subsidiary, Stillwater Mining Company, has initiated an offering of senior, unsecured, guaranteed convertible bonds valued at $500 million.

These bonds are scheduled to mature in November 2028 and have the potential to be converted into new or existing ordinary shares of Sibanye-Stillwater.

It is anticipated that the proceeds will be allocated towards the implementation of the group's growth strategy, which will include financing the Reldan acquisition.

It recently acquired the US-based metals recycler for an enterprise value of $211.5 million with a cash purchase consideration of $155.4 million.

Simultaneously, Sibanye-Stillwater’s current balance sheet will be maintained to support ongoing operations and initiatives in the face of declining commodity prices.

“The convertible bond offering is one of various available financing options, which provides financial flexibility at a reasonable cost under current market conditions, and will enable further delivery on our strategic growth objectives at an opportune time in the commodity cycle, whilst maintaining balance sheet resilience and liquidity,” said Sibanye-Stillwater chief executive Neal Froneman.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished