Sibanye-Stillwater Limited (SBSW) is seeing an uptick in its stock price after hours, following the announcement of a memorandum of understanding (MOU) with C5 Capital. This agreement aims to advance nuclear energy initiatives in South Africa, the United States, and globally. The collaboration is expected to leverage Sibanye-Stillwater's expertise in mining and C5 Capital's focus on energy security and sustainability, potentially opening new avenues for growth and diversification for the company.
Additionally, skepticism surrounding China's recent claim of discovering a massive gold deposit may have indirectly benefited Sibanye-Stillwater. The World Gold Council expressed doubts about the feasibility and scale of the Chinese discovery, suggesting that the impact on the global gold market might be minimal. This skepticism could have shifted investor focus back to established players like Sibanye-Stillwater, which is a significant producer of precious metals.
Sibanye-Stillwater's stock rose 0.24% to $4.15 in after-hours trading, following a 1.22% increase to close at $4.14 on December 2, 2024.