Wrap Text
Production resumes at the Stillwater West mine following successful remediation of shaft infrastructure
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
Production resumes at the Stillwater West mine following successful remediation of
shaft infrastructure
Johannesburg, 24 April 2023: Sibanye-Stillwater (Tickers JSE: SSW and NYSE: SBSW) is
pleased to advise that it recommissioned the vertical shaft at its Stillwater West mine
on 16 April 2023, following remediation of shaft infrastructure which was damaged during
an incident in March 2023.
Production from the deeper levels (below 50 level) at the Stillwater West mine has
resumed and will build up over a two-week period and expected to be at normalised levels
by end of April 2023. The suspension of production below 50 level during the remediation
and build-up of production is expected to reduce production from the Stillwater West
mine by approximately 30,000 2Eoz.
As previously announced, access to the upper levels (above 50 level) of the Stillwater
West mine and the Stillwater East mine (through the east portal) was not affected by
the incident and production from these areas, as well as from the East Boulder mine,
continued during the remediation.
The Group will publish an operating update for Q1 2023 on 9 May 2023, which will be
available on https://www.sibanyestillwater.com/news-investors/reports/quarterly/2022/
on the day.
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 has established itself as 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 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: www.youtube.com/channel/UCl9UZT87nncSvSvJ8i7az8Q
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 2021 Integrated Report and the annual report on Form 20-F for the fiscal year
ended 31 December 2021 (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.
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: 24-04-2023 03:25:00
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 
