Sibanye Gold Limited (Sibanye-Stillwater)
Sibanye Gold Limited (Sibanye-Stillwater)
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Sibanye-Stillwater has launched a new bid to settle the 45-day-old strike by workers at its South African gold operations, making a “final settlement offer” that will add a further R1.67B to its annual wage bill over the next three years.
The gold major says the increased offer will apply to all employees, including Solidarity and UASA members who accepted its previous offer totalling R2.5B in mid-March.
The global leader in proprietary lithium-sulphur battery technology, NexTech Batteries, has completed an MoU with emerging lithium-boron supplier ioneer for the supply of lithium carbonate/lithium hydroxide from the Rhyolite Ridge project, its 50-50 JV with Sibanye in Nevada, USA.
The Rhyolite Ridge product will be used at NexTech’s Carson City production facility to manufacture solid-state batteries for sectors including the automotive industry, renewable energy and grid storage applications.
Sibanye Stillwater is facing concerted strike action across its South African gold operations after failing to reach agreement on a new 3-year wages deal with the Association of Mineworkers and Construction Union and the National Union of Mineworkers.
The unions have given notice their stoppage, which is protected under South Africa’s labour laws, will begin from the evening shift on March 9.
CEO Neal Froneman says Sibanye is disappointed the two unions refused the company’s fair offer, which is final.
South African major Sibanye has terminated its $US1B-plus acquisition of the Santa Rita nickel mine and Serrote copper mine in Brazil after extended investigations that followed a reported geotechnical event at Santa Rita.
Sibanye announced the acquisition from UK investor Appian Capital Advisory in Oct 2021 as a significant step to build its green metals and related technologies.
It now says, after assessing the underground tremor, it has concluded it would be adverse to the acquisition.
South African major Sibanye has achieved the lower end of its FY2021 guidance for its SA gold operations despite an ongoing program of operational suspensions to address safety issues.
Sibanye announced last month it had halted its Kloor 1 shaft and Beatrix 1 and 3 shafts for safety interventions following the deaths of five employees in three separate incidents at its mines within a week.
South African gold major Sibanye is facing the threat of industrial action over the inability to finalise negotiations on a new 3-year wages deal with the Association of Mineworkers and Construction Union, National Union of Mineworkers, Solidarity and UASA.
The national Commission for Conciliation, Mediation and Arbitration has declared the dispute unresolved, allowing the unions to carry out peaceful picketing and requiring them to give 48 hours notice of any industrial action.
Australian miner New Century has begun an options study on the feasibility of restarting production after executing an option agreement with Vedanta Resources over the mothballed Mt Lyell copper mine in Tasmania. The study will evaluate the potential for tailings retreatment along with the restart of insitu operations.
South Africa's Sibanye has made a significant step to build its green metals and related technologies portfolio with the $US1B-plus acquisition of the Santa Rita nickel mine and Serrote copper mine in Brazil.
CEO Neale Froneman says the two low-cost producing assets will be immediately accretive to Sibanye's cashflow and earnings.
South African major Sibanye Stillwater has put its considerable weight behind the development of the Rhyolite Ridge lithium-boron project in Nevada, USA, agreeing to pay $US490M for a 50% JV share with Ioneer and take a $70M placement in the Australian-based company.
Sibanye has also taken an option to acquire 50% interest in Ioneer’s adjoining early stage North Basin exploration project.
Success in restoring production to above pre-COVID levels across all segments has enabled South African major independent miner Sibanye achieve record adjusted EBITDA of R19.8B in the March qtr (Q1FY2021), from R11.1B in the corresponding period.
Sibanye’s US operations delivered 4,801kg 2E PGM for the 3 months (Q1FY20: 4,404kg) at AISC of R13,763/oz (R13,756/oz), with its SA operations contributing 13,829kg 4E PGM (13,004kg) at R19,771/oz (R16,745/oz) and 7,757kg gold (7,405kg) at R772,572/kg (R741,858/kg).