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Shaft incident at Kloof 4 shaft
Sibanye Stillwater Limited
Incorporated in the Republic of South Africa
Registration number 2014/243852/06
Share codes: SSW (JSE) and SBSW (NYSE)
ISIN – ZAE000259701
Issuer code: SSW
(“Sibanye-Stillwater”)
Website: www.sibanyestillwater.com
Shaft incident at Kloof 4 shaft
Johannesburg, 1 August 2023: Sibanye-Stillwater (Tickers JSE: SSW and NYSE: SBSW)
advises stakeholders of an incident at its Kloof 4 (Ikamva) shaft, SA gold
operations which occurred on Sunday, 30 July 2023. During a standard safety trial
run of the conveyance system, conducted prior to hoisting employees up the shaft,
infrastructure damage occurred when the ascending counterweight to the conveyance
encountered an unknown obstruction in the shaft, resulting in a number of ballast
plates falling down the shaft. As a result of the incident, access via the shaft
to underground levels between 39 and 46 levels was restricted.
The incident occurred between shifts and all employees below 39 level were safely
brought to the surface without any injuries sustained. Power has subsequently been
restored to the shaft area allowing the pumping of water from the shaft bottom to
commence. Teams have started working on ensuring the safety of the shaft to
facilitate and plan essential repairs within the shaft barrel and assess the extent
of the infrastructure damage below 39 level. The extent of structural damage to
the shaft steelwork has not yet been established but may result in a significant
delay to the resumption of operations below 39 level.
Management has suspended all operations at Kloof 4 shaft while investigations are
underway. The Department of Mineral Resources and Energy, as well as the unions,
have been informed.
Kloof 4 shaft produces an average of about 9,650 oz (300kg) of gold per month or
115,743oz (3,600kg) annually, which accounts for approximately 14% of annual
production from the SA gold operations (excluding DRDGOLD).
About Sibanye-Stillwater
Sibanye-Stillwater is a multinational mining and metals processing Group with a
diverse portfolio of mining and processing operations, projects and investments
across five continents. The Group is also one of the foremost global recyclers of
PGM autocatalysts and has interests in leading mine tailings retreatment operations.
Sibanye-Stillwater has established itself as one of the world’s largest primary
producers of platinum, palladium, and rhodium and is also a top tier gold producer.
It produces and refines iridium and ruthenium, nickel, chrome, copper and cobalt.
The Group has recently begun to build and diversify its asset portfolio into battery
metals mining and processing and is increasing its presence in the circular economy
by growing and diversifying its recycling and tailings reprocessing operations
globally. For more information refer to www.sibanyestillwater.com.
Investor relations contact:
Email: ir@sibanyestillwater.com
James Wellsted, Executive Vice President: Investor Relations and Corporate Affairs
Tel: +27 (0) 83 453 4014
Website: www.sibanyestillwater.com
YouTube: https://www.youtube.com/@sibanyestillwater/videos
Sponsor: J.P. Morgan Equities South Africa Proprietary Limited
DISCLAIMER
FORWARD LOOKING STATEMENTS
The information in this document may contain forward-looking statements within the meaning of the “safe harbour”
provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking
statements, including, among others, those relating to Sibanye Stillwater Limited’s (Sibanye-Stillwater or the
Group) financial positions, business strategies, plans and objectives of management for future operations, are
necessarily estimates reflecting the best judgment of the senior management and directors of Sibanye-Stillwater
and involve a number of risks and uncertainties that could cause actual results to differ materially from those
suggested by the forward-looking statements. As a consequence, these forward-looking statements should be
considered in light of various important factors, including those set forth in this announcement.
All statements other than statements of historical facts included in this document may be forward-looking
statements. Forward-looking statements also often use words such as “will”, “would”, “expect”, “forecast”,
“potential”, “may”, “could”, “believe”, “aim”, “anticipate”, “target”, “estimate” and words of similar meaning.
By their nature, forward-looking statements involve risk and uncertainty because they relate to future events
and circumstances and should be considered in light of various important factors, including those set forth in
this disclaimer. Readers are cautioned not to place undue reliance on such statements.
The important factors that could cause Sibanye-Stillwater’s actual results, performance or achievements to differ
materially from estimates or projections contained in the forward-looking statements include, without limitation,
Sibanye-Stillwater’s future financial position, plans, strategies, objectives, capital expenditures, projected
costs and anticipated cost savings, financing plans, debt position and ability to reduce debt leverage; economic,
business, political and social conditions in South Africa, Zimbabwe, the United States and elsewhere; plans and
objectives of management for future operations; Sibanye-Stillwater’s ability to obtain the benefits of any
streaming arrangements or pipeline financing; the ability of Sibanye-Stillwater to comply with loan and other
covenants and restrictions and difficulties in obtaining additional financing or refinancing; Sibanye-
Stillwater’s ability to service its bond instruments; changes in assumptions underlying Sibanye-Stillwater’s
estimation of its Mineral Resources and Mineral Reserves; any failure of a tailings storage facility; the ability
to achieve anticipated efficiencies and other cost savings in connection with, and the ability to successfully
integrate, past, ongoing and future acquisitions, as well as at existing operations; the ability of Sibanye-
Stillwater to complete any ongoing or future acquisitions; the success of Sibanye-Stillwater’s business strategy
and exploration and development activities, including any proposed, anticipated or planned expansions into the
battery metals or adjacent sectors and estimations or expectations of enterprise value (including the Rhyolite
Ridge project); the ability of Sibanye-Stillwater to comply with requirements that it operate in ways that
provide progressive benefits to affected communities; changes in the market price of gold, PGMs, battery metals
(e.g., nickel, lithium, copper and zinc) and the cost of power, petroleum fuels, and oil, among other commodities
and supply requirements; the occurrence of hazards associated with underground and surface mining; any further
downgrade of South Africa’s credit rating; the impact of South Africa's greylisting; a challenge regarding the
title to any of Sibanye-Stillwater’s properties by claimants to land under restitution and other legislation;
Sibanye-Stillwater’s ability to implement its strategy and any changes thereto; the outcome of legal challenges
to the Group’s mining or other land use rights; the occurrence of labour disputes, disruptions and industrial
actions; the availability, terms and deployment of capital or credit; changes in the imposition of industry
standards, regulatory costs and relevant government regulations, particularly environmental, sustainability,
tax, health and safety regulations and new legislation affecting water, mining, mineral rights and business
ownership, including any interpretation thereof which may be subject to dispute; the outcome and consequence of
any potential or pending litigation or regulatory proceedings, including in relation to any environmental, health
or safety issues; failure to meet ethical standards, including actual or alleged instances of fraud, bribery or
corruption; the effect of climate change or other extreme weather events on Sibanye-Stillwater’s business; the
concentration of all final refining activity and a large portion of Sibanye-Stillwater’s PGM sales from mine
production in the United States with one entity; the identification of a material weakness in disclosure and
internal controls over financial reporting; the effect of US tax reform legislation on Sibanye-Stillwater and
its subsidiaries; the effect of South African Exchange Control Regulations on Sibanye-Stillwater’s financial
flexibility; operating in new geographies and regulatory environments where Sibanye-Stillwater has no previous
experience; power disruptions, constraints and cost increases; supply chain disruptions and shortages and
increases in the price of production inputs; the regional concentration of Sibanye-Stillwater’s operations;
fluctuations in exchange rates, currency devaluations, inflation and other macro-economic monetary policies; the
occurrence of temporary stoppages or precautionary suspension of operations at its mines for safety or
environmental incidents (including natural disasters) and unplanned maintenance; Sibanye-Stillwater’s ability to
hire and retain senior management and employees with sufficient technical and/or production skills across its
global operations necessary to meet its labour recruitment and retention goals, as well as its ability to achieve
sufficient representation of historically disadvantaged South Africans in its management positions; failure of
Sibanye-Stillwater’s information technology, communications and systems; the adequacy of Sibanye-Stillwater’s
insurance coverage; social unrest, sickness or natural or man-made disaster at informal settlements in the
vicinity of some of Sibanye-Stillwater’s South African-based operations; and the impact of HIV, tuberculosis and
the spread of other contagious diseases, such as the coronavirus disease (COVID-19).
Further details of potential risks and uncertainties affecting Sibanye-Stillwater are described in Sibanye-
Stillwater’s filings with the Johannesburg Stock Exchange and the United States Securities and Exchange
Commission, including the 2022 Integrated Report and the annual report on Form 20-F for the fiscal year ended 31
December 2022.
These forward-looking statements speak only as of the date of the content. Sibanye-Stillwater expressly disclaims
any obligation or undertaking to update or revise any forward-looking statement (except to the extent legally
required). These forward-looking statements have not been reviewed or reported on by the Group’s external
auditors.
NON-IFRS MEASURES
The information contained in this document may contain certain non-IFRS measures, including adjusted EBITDA,
AISC, AIC and Nickel equivalent sustaining cost. These measures may not be comparable to similarly-titled measures
used by other companies and are not measures of Sibanye-Stillwater’s financial performance under IFRS. These
measures should not be considered in isolation or as a substitute for measures of performance prepared in
accordance with IFRS. Sibanye-Stillwater is not providing a reconciliation of the forecast non-IFRS financial
information presented in this report because it is unable to provide this reconciliation without unreasonable
effort. These forecast non-IFRS financial information presented have not been reviewed or reported on by the
Group’s external auditors.
MINERAL RESOURCES AND MINERAL RESERVES
Sibanye-Stillwater’s Mineral Resources and Mineral Reserves are estimates at a particular date, and are affected
by fluctuations in mineral prices, the exchange rates, operating costs, mining permits, changes in legislation
and operating factors. Sibanye-Stillwater reports its Mineral Resources and Mineral Reserves in accordance with
the rules and regulations promulgated by each of the United States Securities and Exchange Commission (SEC) and
the JSE at all managed operations, development, and exploration properties. Sibanye-Stillwater expects to file
the information required by Subpart 1300 of Regulation S-K under the Securities Act of 1933, including a Technical
Report Summary in respect of the Keliber project, with its annual report on Form 20-F for the year ended 31
December 2022.
WEBSITES
References in this document to information on websites (and/or social media sites) are included as an aid to
their location and such information is not incorporated in, and does not form part of, this report.
Date: 01-08-2023 01:17:00
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