MINING NEWS
Sibanye-Stillwater lists on A2X Precious metals miner, Sibanye-Stillwater (market cap: R117 billion) was approved for a secondary listing on A2X Markets with
trading from 6 November 2026. The company is a global mining and metals processing group with operations, projects and investments across five continents. The group is one of the world’s largest producers and refiners of platinum group metals and a top-tier gold producer. Sibanye- Stillwater has also diversified into mining and processing battery metals and has increased its presence in the circular economy by expanding its recycling and secondary-mining exposure globally. Sibanye-Stillwater’s operations span Southern Africa, North America, Europe and Australia. A2X CEO Kevin Brady said, “We’re delighted to welcome Sibanye-Stillwater to A2X. This listing reflects the growing confidence issuers have in A2X as a credible, cost-effective secondary market, and gives investors greater choice in how they access one of South Africa’s leading
Sibanye-Stillwater lists on A2X.
with a combined market capitalisation of over R12 trillion. The company retains its listing on the JSE, and its issued share capital will be unaffected by its secondary listing on A2X. A2X is regulated by the Financial Sector Conduct Authority and the Prudential Authority (SARB) in terms of the Financial Markets Act. n
mining companies.” Sibanye-Stillwater joins other mining companies with secondary listings on A2X, including Goldfields, Impala Platinum, Harmony and AngloGold Ashanti. Sibanye-Stillwater’s listing will bring the instruments available for trade on A2X to 167, including 31 Top 40 constituents,
Rainbow signs MoU with Neo Performance Materials
Rainbow Rare Earths recently signed a Memorandum of Understanding (MoU) with TSX-listed Neo Performance Materials for technical support and design input for Rainbow’s final solvent extraction (SX) separation circuit for the Phalaborwa project in South Africa. The final separation circuit is expected to deliver separated NdPr oxide at >99% purity and a mixed SEG+ heavy rare earth carbonate, containing dysprosium and terbium as well as other heavy rare earth elements, suitable for further separation at Neo’s facilities. In return for the use of Neo’s SX technology, Rainbow will provide offtake rights to Neo on commercial terms covering 40% of NdPr and 65% of SEG+ production from Phalaborwa. Neo is a leader in rare earth separation technology; test work using Rainbow’s high-grade REE solution is underway at Neo’s facilities in Estonia. This decision will enable the release of a Pre-Feasibility Study (PFS) in Q4, allowing Rainbow to update the market on the economics of the Phalaborwa project and incorporating the initial SX test work, ahead of a Definitive Feasibility Study (DFS) in H1 2027. The PFS will allow Rainbow to progress both financing and permitting workstreams for Phalaborwa in support of the overall project development timeline. George Bennett, CEO of Rainbow, commented: “Finalising our technology partner for the SX separation process was the remaining step required to complete the definition of our process to extract REEs from
Core drilling for bulk density and resource definition at Phalaborwa.
phosphogypsum waste. We are delighted that Neo has agreed to partner with us - their deep understanding and experience in rare earth separation and magnet materials is invaluable. That they have taken the decision to partner with Rainbow is in line with an aligned strategy to secure a vital, verifiable source of the permanent magnet elements required to satisfy demand for a reliable, secure supply of REEs. The decision to release a PFS will enable us to initiate key project development activities in earnest to support our overall timeline to production and also supports our preparedness in respect of evaluating the opportunity to list in the US, which we believe will be key in unlocking further shareholder value.” n
4 MODERN MINING www.modernminingmagazine.co.za | November 2026
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