Metals One to acquire full control of South African gold firm Lions Bay Resources in £6.5m share deal.

Metals One PLC has agreed to acquire full ownership of South African gold and power company Lions Bay Resources for £6.5 million in shares. The deal involves Metals One increasing its stake from 30% to 49.99%, then buying the remaining 50.01% from existing owners. Key assets include the Barbrook Gold Mine with 2.1 million ounces of gold and a cogeneration plant that could supply power to the mine. Metals One aims to start gold concentrate production within six months and plans to advance up to $15 million to support the acquisition. Former Harmony Gold CEO Graham Briggs is set to become Metals One's non-executive chair after the deal closes.

Harmony Gold Mining Co., a key player in South African gold, trades at USD 16.31 on Pluang as of Oct 22, 2026, 14:31 WIB. The stock saw a 3.20% decline in the past day, with a market cap of $10.53 billion. This activity occurs while Metals One pursues full control of Lions Bay Resources, which owns the Barbrook Gold Mine, highlighting ongoing interest in South African gold assets.