Wrap Text
Update on impact of COVID-19
Sibanye Stillwater Limited
Incorporated in the Republic of South Africa
Registration number 2014/243852/06
Share code: SSW
ISIN – ZAE000259701
Issuer code: SSW
(“Sibanye-Stillwater” or “the Group” or “the Company”)
Sibanye-Stillwater update on impact of COVID-19
Johannesburg, 25 March 2020: On Monday 23 March 2019, the President of the Republic
of South Africa (SA), Cyril Ramaphosa, announced a nation-wide lockdown for 21 days
effective from midnight on Thursday, 26 March 2020.
The nation-wide lockdown enacted in terms of the Disaster Management Act, is an
emergency protocol that requires South Africans to stay at home except those
individuals and businesses supplying essential services to the country. As a result,
Sibanye-Stillwater (Tickers JSE: SSW and NYSE: SBSW) has begun implementing measures
to place its SA gold and PGM operations under temporary care and maintenance and
subsequently facilitate the safe resumption of operations post the lockdown period.
This suspension of operations will adversely impact on production at the SA mines and
shareholders are therefore cautioned that production for 2020 may differ from previous
guidance. Further detail will be provided once there is greater clarity on the
possible production impact.
Ends.
Investor relations contact:
Email: ir@sibanyestillwater.com
James Wellsted
Head of Investor Relations
Tel: +27 (0) 83 453 4014
Sponsor: J.P. Morgan Equities South Africa Proprietary Limited
Ends.
FORWARD LOOKING STATEMENTS
The information in this announcement 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.
All statements other than statements of historical facts included in this announcement may be
forward-looking statements. Forward-looking statements also often use words such as “will”,
“forecast”, “potential”, “estimate”, “expect” 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 and in the Group’s Annual Integrated Report and Annual Financial Report,
published on 29 March 2019, and the Group’s Annual Report on Form 20-F filed by Sibanye-Stillwater
with the Securities and Exchange Commission on 5 April 2019 (SEC File no. 001-35785), and the Form
F-4 filed by Sibanye Stillwater Limited with the Securities and Exchange Commission on 4 October
2019 (SEC File no. 333-234096) and any amendments thereto. 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 those in the forward-looking statements include, among
others, our future business prospects; financial positions; debt position and our ability to reduce
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debt leverage; business, political and social conditions in the United States, United Kingdom,
South Africa, Zimbabwe and elsewhere; plans and objectives of management for future operations;
our ability to obtain the benefits of any streaming arrangements or pipeline financing; our ability
to service our bond Instruments (High Yield Bonds and Convertible Bonds); changes in assumptions
underlying Sibanye-Stillwater’s estimation of their current mineral reserves and resources; the
ability to achieve anticipated efficiencies and other cost savings in connection with past, ongoing
and future acquisitions, as well as at existing operations; our ability to achieve steady state
production at the Blitz project; the success of Sibanye-Stillwater’s business strategy; exploration
and development activities; the ability of Sibanye-Stillwater to comply with requirements that
they operate in a sustainable manner; changes in the market price of gold, PGMs and/or uranium;
the occurrence of hazards associated with underground and surface gold, PGMs and uranium mining;
the occurrence of labour disruptions and industrial action; the availability, terms and deployment
of capital or credit; changes in relevant government regulations, particularly environmental, tax,
health and safety regulations and new legislation affecting water, mining, mineral rights and
business ownership, including any interpretations thereof which may be subject to dispute; the
outcome and consequence of any potential or pending litigation or regulatory proceedings or other
environmental, health and safety issues; power disruptions, constraints and cost increases; supply
chain shortages and increases in the price of production inputs; fluctuations in exchange rates,
currency devaluations, inflation and other macro-economic monetary policies; the occurrence of
temporary stoppages of mines for safety incidents and unplanned maintenance; the ability to hire
and retain senior management or sufficient technically skilled employees, as well as their ability
to achieve sufficient representation of historically disadvantaged South Africans’ in management
positions; failure of information technology and communications systems; the adequacy of insurance
coverage; any social unrest, sickness or natural or man-made disaster at informal settlements in
the vicinity of some of Sibanye-Stillwater’s operations; and the impact of HIV, tuberculosis and
other contagious diseases. 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).
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Date: 25-03-2020 01:45:00
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