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Fei Yan pleaded guilty before U.S. District Judge Katherine Forrest in Manhattan and is scheduled to be sentenced by Forrest on March 2, prosecutors said. Yan, a Chinese national, was arrested in Massachusetts in July. Federal prosecutors accused him of purchasing options to buy stock of Stillwater Mining, based on insider information about South Africa’s Sibanye Gold Ltd's planned $2.2 billion acquisition of Stillwater.
A research scientist at Massachusetts Institute of Technology was arrested on Wednesday on charges that he engaged in insider trading based on information he obtained from his wife, a corporate lawyer working on a deal involving a mining company. Fei Yan, 31, was arrested in Massachusetts after federal prosecutors in Manhattan accused him of trading last year on inside information about South Africa's Sibanye Gold Ltd planned $2.2 billion acquisition of Stillwater Mining.
Rating Action: Moody's assigns first-time Ba2 rating to Sibanye Gold; stable outlook. Global Credit Research- 07 Jun 2017. London, 07 June 2017-- Moody's Investors Service has assigned a first-time Ba2 ...
South African-based precious metals producer Sibanye Gold plans to raise $1 billion through a rights issue to repay a portion of a $2.65 billion loan facility it used to acquire U.S. platinum producer Stillwater. Sibanye, a Gold Fields spin-off, has been expanding out of gold and now South Africa, reducing its reliance on bullion and exposure to the political and social risks of its home base.
HELENA, Mont. (AP) — A South African gold mining company completed a $2.2 billion purchase of the only U.S. producer of platinum and palladium on Thursday, its third such acquisition in the past year as the company looks to expand its precious metals holdings.
Mick McMullen, Stillwater Mining Co. president and chief executive officer, discusses the outlook for palladium and platinum prices with Bloomberg's Vonnie Quinn on "Bloomberg Markets." (Source: ...
Sibanye Gold's shareholders on Tuesday approved the South African miner's $2.2 billion buyout of U.S.-based Stillwater Mining ( SWC.N), moving it a step closer to significantly boosting its platinum portfolio. About 82 percent of Sibanye shareholders voted in favour of the deal which will cement South Africa's grip on global supply of platinum and advance Chief Executive Neal Froneman's push to diversify away from gold and South Africa. "We thank our shareholders for their support for this transaction which represents a unique and transformative opportunity to acquire world class, low-cost international PGM assets," Chief Executive Neal Froneman said.
Sibanye Gold Ltd. plans to raise $1 billion from shareholders and a further $1 billion in debt, most likely bonds, to pay for the acquisition of Colorado-based Stillwater Mining Co.
South African miner Sibanye Gold plans to tap shareholders for about $1 billion to partly fund a takeover of U.S.-based Stillwater Mining Co, it said on Tuesday, a day after the deal secured a U.S. regulatory approval. The Committee on Foreign Investment in the United States, which examines deals for potential national security concerns, has cleared Sibanye's $2.2 billion takeover of the country's sole platinum and palladium miner. The deal will increase South Africa's grip over global platinum and palladium supply and underline Sibanye Chief Executive Neal Froneman's determination to branch out of gold mining and South Africa.
The U.S. cleared the sale of the country’s sole provider of platinum and palladium to a miner whose biggest investor is Chinese, providing the first indication that the Trump administration’s tough talk ...
The Committee on Foreign Investment in the United States will extend its scrutiny of a $2.2 billion takeover by South Africa's Sibanye Gold of the only U.S. miner of platinum and palladium, Stillwater Mining , Sibanye said on Friday. "Its fairly complicated, it's a South African company with a large Chinese shareholding so they have just asked for an extension so that they can do further investigations," said Sibanye spokesman James Wellsted. Gold One South Africa, majority-owned by a Chinese consortium, holds a 19.96 percent share in Sibanye.
The Committee on Foreign Investment in the United States will extend its scrutiny of a $2.2 billion takeover by South Africa's Sibanye Gold of the only U.S. miner of platinum and palladium, Stillwater ...
Categories: Yahoo Finance Get free summary analysis Stillwater Mining Co. reports financial results for the year ended December 31, 2016. We analyze the earnings along side the following peers of Stillwater Mining Co. – Coeur Mining, Inc., Platinum Group Metals Ltd., Royal Gold, Inc., General Motors Company and Ford Motor Company (CDE-US, PLG-US, RGLD-US, GM-US and F-US) that ... Read more (Read more...)
The Littleton, Colorado-based company said it had profit of 5 cents per share. Earnings, adjusted for non-recurring costs, came to 6 cents per share. The mining company posted revenue of $215.4 million ...
Sibanye Gold (SBGL) entered into an agreement with Stillwater Mining (SWC) to acquire all its stock in December 2016.
Sibanye Gold is hunting for another South African platinum asset with a focus on smelting and refining, but a deal is unlikely this year as its seeks to fund its acquisition of U.S. producer Stillwater , its CEO said on Monday. "We still have a step to do with our platinum strategy," Sibanye Chief Executive Neal Froneman told Reuters in an interview on the sidelines of an African mining conference. "Our South African asset base still needs to have a mine to market basis.
Sibanye Gold Ltd said it might tap shareholders for up to $1.3 billion to partly fund a $2.2 billion takeover of Stillwater Mining Co, the only U.S. miner of platinum and palladium. Sibanye had initially said it would raise around $750 million via a rights issue to help to fund the deal, but said on Friday it had reconsidered after some shareholders expressed concerns about the company's debt levels.
Sibanye Gold Ltd. said it may seek to almost double the size of a planned share sale to $1.3 billion, or 60 percent of its market value, to reduce the amount it has to borrow in its takeover of Montana-based ...