Wrap Text
Surface infrastructure incident at the Siphumelele shaft impacts production
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" or the "Group" or the "Company")
Website: www.sibanyestillwater.com
Surface infrastructure incident at the Siphumelele shaft impacts production
Johannesburg, 20 March 2024: Sibanye-Stillwater (Tickers JSE: SSW and NYSE: SBSW)
informs stakeholders that damage to surface infrastructure at its Siphumelele shaft,
SA PGM operations in Rustenburg, on 29 February 2024, has resulted in suspension of
production from the shaft.
An ore collector bin attached to the shaft headgear sheared off and fell to ground,
damaging a surface ore conveyor belt system. There were no injuries as a result of the
incident, however the incapacitation of the ore collector bin and collapse of the
conveyor system necessitated suspension of production. Investigations into the cause
of the incident are underway and the impact on annual production from the Siphumelele
shaft is being assessed. Stakeholders, including the Department of Mineral Resources
and Energy and representative unions, were informed.
The Siphumelele shaft was forecast to produce an average of approximately 4,500 4Eoz
per month or 54,000 4Eoz for 2024, which accounts for approximately 3.5% of annual
production from the SA PGM operations (excluding third-party processing).
Further details will be communicated when available.
About Sibanye-Stillwater
Sibanye-Stillwater is a multinational mining and metals processing group with a diverse portfolio
of 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 is one of the world's largest primary producers of platinum, palladium, and
rhodium and is a top tier gold producer. It also produces and refines iridium and ruthenium,
nickel, chrome, copper and cobalt. The Group has recently begun to diversify its asset portfolio
into battery metals mining and processing and increase its presence in the circular economy by
growing its recycling and tailings reprocessing exposure 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
LinkedIn: https://www.linkedin.com/company/sibanye-stillwater
Facebook: https://www.facebook.com/SibanyeStillwater
YouTube: https://www.youtube.com/@sibanyestillwater/videos
X: https://twitter.com/SIBSTILL
Sponsor: J.P. Morgan Equities South Africa Proprietary Limited
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 with respect to Sibanye Stillwater
Limited's (Sibanye-Stillwater or the Group) financial condition, results of operations, business strategies, operating
efficiencies, competitive position, growth opportunities for existing services, plans and objectives of management for
future operations, markets for stock and other matters. These forward-looking statements, including, among others, those
relating to Sibanye-Stillwater's future business prospects, revenues and income, climate change-related targets and
metrics, the potential benefits of past and future acquisitions (including statements regarding growth, cost savings,
benefits from and access to international financing and financial re-ratings), gold, PGM, nickel and lithium pricing
expectations, levels of output, supply and demand, information relating to Sibanye-Stillwater's new or ongoing
development projects, any proposed, anticipated or planned expansions into the battery metals or adjacent sectors and
estimations or expectations of enterprise value, adjusted EBITDA and net asset, 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 document.
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", "goal", "vision",
"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, Europe 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 grey listing; 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; increasing regulation of environmental and sustainability matters such as greenhouse gas
emissions and climate change; being subject to, and the outcome and consequence of, any potential or pending litigation
or regulatory proceedings, including in relation to any environmental, health or safety issues; the ability of Sibanye-
Stillwater to meet its decarbonisation targets, including by diversifying its energy mix with renewable energy projects;
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, including global pandemics.
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 Financial Report for the fiscal year ended 31 December 2022 on Form 20-F filed
with the United States Securities and Exchange Commission on 24 April 2023 (SEC File no. 333-234096).
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.
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 document.
Date: 20-03-2024 11:37:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
