South Africa's Sibanye Gold plans to buy more assets: CEO - CNBC Africa

South Africa's Sibanye Gold plans to buy more assets: CEO

Southern Africa

by Reuters 0

South Africa's Sibanye Gold plans to buy more assets. Photo: Wikipedia

The chief executive of Sibanye Gold said on Friday the bullion producer was aiming to buy South African coal, platinum and base metal mines and gold assets internationally, despite commodity prices sinking to multi-year lows.

"It all depends on the price of entry into those commodities, they could be doing very well and the entry price into those businesses could be very high," Neal Froneman told Reuters in an interview.

Sibanye would seek international gold assets because the rand currency price of the yellow metal was too high which made buying mines in South Africa unaffordable, he said.

Sibanye last year bought mines owned by Anglo American Platinum and Aquarius Platinum.

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