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Neo Energy and Sibanye Stillwater finalise Beisa uranium land agreement

Neo Energy, a low-cost uranium developer, has signed an ancillary acquisition agreement with Sibanye Gold Proprietary Limited, a subsidiary of Sibanye Stillwater Limited, for the Beatrix 4 mine and associated infrastructure in the Witwatersrand Basin in the Free State, South Africa, through its subsidiary Neo Uranium Resources Beisa Mine.

This allows Neo Energy to acquire the Beatrix 4 mine, shaft complex, processing plant, and related infrastructure in the Witwatersrand Basin. The deal is an important step in the company’s significant step towards its strategic growth plans.

As part of the acquisition, NURB has also signed a Sale of Immovable Property Agreement (‘Property Agreement’) with SGL. This agreement means that NURB will acquire the land where the Beisa Uranium Project operates. The land, covering about 6,244 hectares, is the main area for the Beisa Uranium Project and includes several key farm portions.

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Sibanye-Stillwater sells Beisa uranium project for R500m

The cost of the land is already included in the total price for the Beisa Uranium Project, so no extra payments are needed. Signing this agreement is an important milestone, meeting one of the key conditions in the acquisition process with Sibanye-Stillwater.

Neo Energy will continue to provide updates on further progress as it moves toward completing the full acquisition of the Beisa Uranium Project and securing the necessary financing.

This acquisition is part of Neo Energy’s plan to grow as a low-cost uranium producer, supporting the increasing global demand for clean energy through nuclear power.

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Mining Review Africa
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Mining Review Africa

Mining Review Africa is a platform promoting advancement and sustainable development in African mining, providing insights on technology, finance, and industry trends through engagement with mining companies and suppliers.