Sibanye elects not to up stake in Canada palladium/copper venture

Precious metals major Sibanye-Stillwater has elected not to increase its participation in Marathon palladium/copper project, in Canada, to 51%, joint venture (JV) partner Generation Mining reported on Wednesday.

The announcement sent the Toronto-listed junior’s share price down 15%.

However, president and CEO Jamie Levy said the company was “thrilled” to have clarity on this issue, which removed a perceived encumbrance on the Marathon project. He added that the decision would ultimately benefit shareholders.