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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: ...
LONDON, UK / ACCESSWIRE / April 26, 2017 / Active Wall St. blog coverage looks at the headline from Sibanye Gold Ltd. (NYSE: SBGL ) and Stillwater Mining Co. (NYSE: SWC ). Shareholders of South African ...
NEW YORK, April 25, 2017 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P MidCap 400 and S&P SmallCap 600 indices effective prior to the open on Friday, April 28: PBF Energy ...
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 ...