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Sibanye Sees Potential for Buying South African Gold Assets

  • AngloGold and Gold Fields mines would fit portfolio, CEO says
  • Sibanye to focus on cutting debt before pursuing purchases
Updated on

South Africa’s biggest gold producer would consider buying more assets in the country after paying off debt from previous acquisitions.

Sibanye Gold Ltd. hasn’t discussed deals, but AngloGold Ashanti Ltd.’s Mponeng mine and Gold Fields Ltd.’s troubled South Deep operation would both fit into the company’s portfolio, Chief Executive Officer Neal Froneman said in an interview in Cape Town. Still, for the next 18 months at least, the CEO -- nick-named “Mr Fix-It” for his turnaround successes in the 1990s -- will be focused on strengthening Sibanye’s balance sheet.