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Introducing Sibanye-Stillwater, a unique and globally competitive South African precious metals company
Sibanye Gold Limited
Trading as Sibanye-Stillwater
Incorporated in the Republic of South Africa
Registration number 2002/031431/06
Share code: SGL
ISIN – ZAE000173951
Issuer code: SGL
(“Sibanye-Stillwater” or “the Group” or “the Company”)
Introducing Sibanye-Stillwater, a unique and globally competitive
South African precious metals company
Westonaria, 30 August 2017: As a result of the significant transformation
undergone by the Group over the course of the last year, Sibanye Gold Limited
today announced a change in its trading name to Sibanye-Stillwater.
The rebranding is a natural step in the evolution of the Group; from a gold
mining company with its asset base entirely located in South Africa, into a
leading international precious metals company.
Commenting on the name change, Neal Froneman, CEO of Sibanye-Stillwater said:
“We are proud to unveil our new name and brand “Sibanye-Stillwater”, which
preserves the value of both the Sibanye and Stillwater Mining Company
(Stillwater) brands, and better captures our international profile. The new
logo celebrates our South African roots and the Sibanye culture, vision and
values, which remain consistent and form the core of the new Group. Sibanye-
Stillwater has become a truly competitive, international mining company with
a unique portfolio of world class, scalable, precious metal assets”.
Sibanye’s development from its genesis as a perceived high cost, limited
life South African gold mining company, in just over four years since its
unbundling by Gold Fields Limited (Gold Fields) and listing on the JSE
Limited and NYSE on 11 February 2013, has been extraordinary, particularly
in an environment in which many international mining peers have been more
inwardly focused.
Implementation of Sibanye’s proven operating model at the gold operations it
inherited from Gold Fields, met with early success, with meaningful cost
reductions and increased production, significantly extending the lives of
its gold operations and making them among the lowest cost (on an All-in cost
basis) mines in the world.
In early 2014, an opportunity to unlock significant value through
consolidation and the application of Sibanye’s operating model in the South
African Platinum Group Metals (PGM) industry was identified. The acquisition
of Aquarius Platinum Limited (Aquarius) in April 2016 and the Rustenburg
Operations shortly thereafter, established Sibanye, in a relatively short
time, as a major participant in the global PGM sector.
The subsequent acquisition of Stillwater, a high quality, low cost PGM
producer located in Montana in the United States of America in May 2017, was
a further transformative strategic step for the Group. Sibanye recognised
the strategic value of Stillwater, both as the only sizeable primary
palladium producer, but also for the significant growth opportunities the
operations offer with the Stillwater, the only PGM producer funding
significant growth from internal cash flow at the bottom of the commodity
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price cycle. The Blitz project will add approximately 300,000oz of 2E PGM
production to Stillwater’s existing annual production of approximately
550,000oz, by 2021/2022. The successful acquisition of Stillwater has
created a unique and truly international, precious metals company.
CEO, Neal Froneman said, “Sibanye-Stillwater is the result of our innovative
approach to value creation, and the hard work and dedication of all our
employees. We are grateful to our shareholders and other stakeholders for
their support through this significant transformational period. We are
confident that Sibanye-Stillwater, is poised for continued delivery of
superior value for all of our stakeholders.”
At this stage, the legal name remains Sibanye Gold Limited, but will trade
as Sibanye-Stillwater going forward. Trading tickers on the JSE and NYSE
will remain unchanged at the moment. Any changes to the legal name of the
Group or any other important changes will be communicated if, and when
applicable.
Contact:
James Wellsted
Head of Investor Relations
+27 (0) 83 453 4014
email: ir@sibanyestillwater.com
Sponsor: J.P. Morgan Equities South Africa (Proprietary) Ltd
FORWARD LOOKING STATEMENTS
This announcement includes “forward-looking statements” within the meaning
of the “safe harbour” provisions of the United States Private Securities
Litigation Reform Act of 1995. Forward-looking statements may be identified
by the use of words such as “target”, “will”, “forecast”, “expect”,
“potential”, “intend”, “estimate”, “anticipate”, “can” and other similar
expressions that predict or indicate future events or trends or that are not
statements of historical matters. The forward-looking statements set out in
this announcement involve a number of known and unknown risks, uncertainties
and other factors, many of which are difficult to predict and generally
beyond the control of Sibanye-Stillwater, that could cause Sibanye-
Stillwater’s actual results and outcomes to be materially different from
historical results or from any future results expressed or implied by such
forward-looking statements. These forward-looking statements speak only as
of the date of this announcement. Sibanye-Stillwater undertakes no
obligation to update publicly or release any revisions to these forward-
looking statements to reflect events or circumstances after the date of this
announcement or to reflect the occurrence of unanticipated events, save as
required by applicable law.
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