Sibanye-Stillwater
 | This article needs additional citations for verification. (February 2018) |
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| Company type | Public |
|---|---|
| JSE: SSW[1] NYSE: SBSW[2] | |
| Industry | Mining |
| Founded | November 2012 |
| Headquarters | , South Africa |
Area served | South Africa |
Key people | Neal Froneman (CEO) Vincent Maphai (Chairman) |
| Products | Platinum Palladium Rhodium Gold |
Number of employees | 84,775 (2020) |
| Website | sibanyestillwater.com |
Sibanye-Stillwater is a multinational precious metals mining company, revealing a diverse portfolio of platinum group metals (PGM) in South Africa (SA) and the United States (US), gold and base metals operations and various mining projects in South Africa and the Americas.
History
In 2012, Gold Fields Limited unbundled its subsidiary, GFI Mining South Africa Proprietary Limited (“GFIMSA”), which was then renamed Sibanye Gold Limited (“Sibanye Gold”), and consisted of the KDC (formerly Kloof) and Beatrix mines, as well as an array of support service entities in South Africa.[3] "Gold Fields stockholders were given one share in Sibanye for each of their Gold Fields shares."[4] The three South African mines transferred from Gold Fields to Sibanye are:
- Beatrix gold mine
- KDC mine (formerly Kloof)
- Driefontein mine
The company immediately embarked upon a strategic growth plan which saw the 2013 acquisition of the Cooke operations from Gold One[5] as well as the WitsGold acquisition (Burnstone project)[6] of 2014.
In April 2016 the company entered the PGM space, with an all-share offer for Aquarius Platinum.[7] (comprising Kroondal, Platinum Mile, a 50% shareholding in Zimbabwe's Mimosa mine and a number of exploration projects), as well as the acquisition of the Rustenburg operations from Anglo American Platinum Limited.[8]
On 30 August 2017, following the successful purchase of the Stillwater mine in Montana, Sibanye Gold Limited began trading as Sibanye-Stillwater and reorganized its operations by region – Southern Africa and the United States.[9]
In June 2019, Sibanye-Stillwater acquired Lonmin Plc, London, UK, a top tier PGM producer. The enlarged group is the world’s largest primary producer of platinum and rhodium, one of the largest producer of palladium and the leading recycler and processor of spent PGM catalytic converter materials.[10]
February 2021 saw the Group enter the battery metals industry with an investment into and partnership with Keliber[11], a leading European Lithium project based in Finland.
According to their 2020 annual report, the company produced 3 million ounces of PGM and 0.98 million ounces of gold.[12]
In 2020, the group employed 84,775 people, mostly in South Africa. Thus, Sibanye-Stillwater is one of the top four private sector employers in South Africa and the largest industrial employer in the state of Montana.[13]
Sibanye-Stillwater’s primary listing is on the Johannesburg Stock Exchange (JSE) in South Africa. The company trades under ticker codes JSE:SSW (previously SGL) and NYSE:SBSW as of its relisting on February 19, 2020[14].
2018 safety incident
In January 2018, a power outage caused by poor weather resulted in nearly 1000 miners being trapped underground. This occurred at the Beatrix gold mine near Welkom, South Africa.[15] Some of the trapped miners were rescued the day of the incident, and the remaining 955 were rescued after around 30 hours when power was restored to one of the lifts.[16] The incident resulted in pressure from labour unions, including the National Union of Metalworkers of South Africa, for mine management to address safety concerns before it can reopen.[17]
References
- ^ https://www.jse.co.za/jse/instruments/3904
- ^ "NYSE". www.nyse.com.
- ^ Sibanye-Stillwater "Company Announcements", Sibanye-Stillwater, November 29, 2012. Retrieved April 11, 2018.
- ^ Minto, Rob "Gold Fields and Sibanye: low start", Financial Times, February 11, 2013. Retrieved April 11, 2018.]
- ^ https://www.sibanyestillwater.com/news-investors/news-releases/2013/sibanye-gold-acquires-cooke-operations-from-gold-one.
{{cite web}}: Missing or empty|title=(help) - ^ https://www.sibanyestillwater.com/news-investors/news-releases/2013/joint-announcement-sibanye-gold-to-make-cash-offer-acquire-entire-issued-ordinary-share-capital-wits-gold.
{{cite web}}: Missing or empty|title=(help) - ^ "Sibanye Gold Agrees To Buy Aquarius Platinum For $294 Million". Kitco. 6 October 2015. Retrieved 13 May 2016.
- ^
{{cite web}}: Empty citation (help) - ^ Sibanye-Stillwater "History", Sibanye-Stillwater, November 29, 2012. Retrieved April 11, 2018.
- ^ MarketScreener. "Media release: Sibanye-Stillwater changes NYSE ticker symbol from SBGL to SBSW to highlight new corporate structure and diversified asset mix | MarketScreener". Retrieved 2021-01-03.
- ^ https://www.sibanyestillwater.com/news-investors/news/transactions/keliber/.
{{cite web}}: Missing or empty|title=(help) - ^ Sibanye-Stillwater, Financial Annual Report (2020). "Annual reports". Sibanye-Stillwater. Retrieved 2021-07-21.
{{cite web}}: CS1 maint: numeric names: authors list (link) CS1 maint: url-status (link) - ^ Sibanye-Stillwater, Integrated Report (2020). "Annual reports". Sibanye-Stillwater. Retrieved 2021-07-21.
{{cite web}}: CS1 maint: numeric names: authors list (link) CS1 maint: url-status (link) - ^ https://thevault.exchange/?get_group_doc=245/1581407142-sibanye-stillwater-finalisation-scheme-internal-restructuring-11feb2020.pdf.
{{cite web}}: Missing or empty|title=(help) - ^ Batchelor, Tom (1 February 2018). "Nearly 1,000 miners trapped underground in South Africa". The Independent. Retrieved 3 February 2018.
- ^ Heiberg, Tanisha; Macharia, James (2018). "Workers trapped underground in South Africa gold mine rescued". Reuters. Retrieved 4 February 2018.
- ^ Motau, Koketšo (2 February 2018). "Numsa demands closure of Sibanye-Stillwater mine amid probe". Eye Witness News. Retrieved 4 February 2018.