Sibanye-Stillwater

Sibanye-Stillwater is a multinational mining company that operates in South Africa, United States, and Zimbabwe. The company was formed in 2013 through the demerger of Gold Fields' Kloof and Driefontein mines, with GIC as a significant shareholder. Sibanye-Stillwater is listed on the JSE and is a constituent of the FTSE/JSE Top 40 Index. The company's operations are focused on extracting platinum group metals (PGMs), gold, and other minerals, with a strong presence in the Bushveld Complex and the Witwatersrand Basin.

● History

The history of Sibanye-Stillwater dates back to 2013, when Gold Fields decided to demerge its Kloof and Driefontein mines, which were then merged with the Beatrix mine to form Sibanye Gold. The company was listed on the JSE in 2013, with Neal Froneman as its CEO. In 2017, Sibanye Gold acquired Stillwater Mining Company, a palladium and platinum miner based in Montana, United States, and subsequently changed its name to Sibanye-Stillwater. The company has since expanded its operations through the acquisition of Lonmin's Marikana mine and the Rustenburg mine from Anglo American Platinum. Sibanye-Stillwater has also partnered with Royal Bafokeng Platinum and Impala Platinum to develop new mining projects in South Africa.

● Operations

Sibanye-Stillwater's operations are focused on extracting PGMs, gold, and other minerals from its mines in South Africa, United States, and Zimbabwe. The company's South African operations include the Kloof and Driefontein mines, as well as the Beatrix mine, which are all located in the Witwatersrand Basin. Sibanye-Stillwater also operates the Rustenburg mine, which is located in the Bushveld Complex, and the Marikana mine, which is located in the North West Province. In the United States, the company operates the Stillwater mine and the East Boulder mine, both of which are located in Montana. Sibanye-Stillwater has also partnered with Asa Resource Group to develop the Freda Rebecca mine in Zimbabwe. The company's operations are supported by its relationships with Anglo American Platinum, Impala Platinum, and Royal Bafokeng Platinum.

● Financials

Sibanye-Stillwater's financial performance is closely tied to the prices of PGMs and gold, which are influenced by global demand and supply factors. The company's revenue is also affected by the rand-US dollar exchange rate, as well as the costs of production, which include labour costs, energy costs, and capital expenditure. In 2020, Sibanye-Stillwater reported a revenue of R 73 billion, with a net profit of R 3.4 billion. The company's financial performance is monitored by investors, including GIC, Public Investment Corporation, and BlackRock. Sibanye-Stillwater is also subject to the regulatory oversight of the JSE, the Financial Services Board, and the South African Reserve Bank.

● Sustainability

Sibanye-Stillwater's sustainability performance is focused on reducing its environmental footprint, improving the safety and health of its employees, and contributing to the socio-economic development of the communities in which it operates. The company has set targets to reduce its greenhouse gas emissions, water usage, and waste generation, and has implemented various initiatives to achieve these targets, including the use of renewable energy and the implementation of waste reduction programs. Sibanye-Stillwater has also partnered with World Wildlife Fund and International Council on Mining and Metals to promote sustainable mining practices. The company's sustainability performance is monitored by stakeholders, including NGOs, investors, and regulatory agencies, such as the Department of Environmental Affairs and the Department of Mineral Resources.

● Governance

Sibanye-Stillwater's governance structure is designed to ensure that the company is managed in a responsible and ethical manner. The company's board of directors is chaired by Vincent Maphai, and includes other non-executive directors, such as Futhi Mtoba and Nolitha Fakude. The company's CEO, Neal Froneman, is responsible for the day-to-day management of the company, and is supported by a team of executive directors, including Charl Keyter and Richard Stewart. Sibanye-Stillwater is also subject to the regulatory oversight of the JSE, the Financial Services Board, and the South African Reserve Bank, and is a member of the Minerals Council South Africa and the World Gold Council. The company's governance practices are guided by the King IV Report on Corporate Governance and the United Nations Global Compact.

Category:Mining companies of South Africa