Sibanye-Stillwater is buying the Santa Rita nickel mine and the Serrote copper mine in Brazil from Appian Capital Advisory. Sibanye will pay about $1 billion for the two mines and will pay an additional 5% of the Santa Rita smelter's net income for the life of the mine, after the combined production reaches 252 million pounds of nickel. The transaction is expected to close in Q4 2021.