US-based specialist global investment firm C5 Capital has entered into a strategic partnership with South Africa-based multinational mining and metals processing group Sibanye-Stillwater to participate in future development of advanced nuclear energy opportunities in South Africa, the US and globally. The partnership will explore opportunities worldwide related to the identification, acquisition, financing, development, and management of uranium projects and production facilities which have the potential to supply uranium to fuel small modular reactors (SMRs).
Sibanye-Stillwater has a diverse portfolio of operations, projects, and investments across five continents. The company is a leading recycler of PGM autocatalysts and has interests in mine tailings retreatment operations. The company owns almost 60m pounds of uranium mineral resources in surface tailings at its Cooke Project and underground at the Beatrix mine (Beisa section) in South Africa.
C5 Capital, headquartered in Washington DC and with offices in London, Luxembourg and Vienna invests into advanced nuclear energy, space, and cybersecurity and has an Energy Security Fund that invests to strengthen the resilience of the global nuclear value chain. South African-born founder and CEO, André Pienaar, is a cybersecurity, space and energy expert and investor. C5 is a shareholder in US X-energy, which is developing the Xe-100 SMR. The company earlier announced plans to build the first privately owned SMR in South Africa and has completed a feasibility study.
Neal Froneman, CEO of Sibanye said: “We are excited about the partnership with C5 Capital and look forward to exploring future opportunities together in the uranium and clean energy sectors, which are hugely appealing.” Andre Pienaar said: “Combining C5’s innovative investments in advanced nuclear with Sibanye’s uranium production potential, creates a transformative partnership in clean energy both for South Africa and globally.”
The announcement came a day after South Africa’s Electricity & Energy Minister Dr Kgosientsho Ramokgopa told a briefing that the future of power generation is in SMRs. He said he would take a proposal to the cabinet to revive the Pebble-bed Modular Reactor (PBMR) programme that was abandoned under Jacob Zuma’s presidency as this was “the genesis” of the fast-developing SMR industry.
