Sibanye-Stillwater

Sibanye-Stillwater
Public
Traded as JSE: SGL
NYSE: SBGL
Industry Mining
Founded November 2012
Headquarters Johannesburg, South Africa
Key people
 Sello Moloko
(Chairman)
Neal Froneman
(CEO)
Products Gold
Website

Sibanye-Stillwater is the largest individual producer of gold from South Africa and is one of 10 largest gold producers globally. Sibanye-Stillwater is also the third largest producer of palladium and platinum. Following the proposed acquisition of Lonmin, it will further increase its production of palladium and platinum.[1]

History

In 2012, Gold Fields Limited unbundled its subsidiary, GFI Mining South Africa Proprietary Limited (“GFIMSA”), which was then renamed Sibanye Gold Limited (“Sibanye Gold”), and consisted of the KDC (formerly Kloof) and Beatrix mines, as well as an array of support service entities in South Africa.[2] "Gold Fields stockholders were given one share in Sibanye for each of their Gold Fields shares."[3] The three South African mines transferred from Gold Fields to Sibanye are:

  • Beatrix gold mine

On 30 August 2017, Sibanye Gold Limited began trading as Sibanye-Stillwater and reorganized its operations by region – Southern Africa and the United States.[4]

2018 incident

In January 2018, a power outage caused by poor weather resulted in nearly 1000 miners being trapped underground. This occurred at the Beatrix gold mine near Welkom, South Africa.[5] Some of the trapped miners were rescued the day of the incident, and the remaining 955 were rescued after around 30 hours when power was restored to one of the lifts.[6] The incident has resulted in pressure from labour unions, including the National Union of Metalworkers of South Africa, for mine management to address safety concerns before it can reopen.[7]

References

  1. ↑ Shabalala, Zandi; Stoddard, Ed (2017). "South Africa's Sibanye-Stillwater to be No. 2 platinum miner with Lonmin buy". Reuters. Retrieved 3 February 2018.
  2. ↑ Sibanye-Stillwater "Company Announcements", Sibanye-Stillwater, November 29, 2012. Retrieved April 11, 2018.
  3. ↑ Minto, Rob "Gold Fields and Sibanye: low start", Financial Times, February 11, 2013. Retrieved April 11, 2018.]
  4. ↑ Sibanye-Stillwater "History", Sibanye-Stillwater, November 29, 2012. Retrieved April 11, 2018.
  5. ↑ Batchelor, Tom (1 February 2018). "Nearly 1,000 miners trapped underground in South Africa". The Independent. Retrieved 3 February 2018.
  6. ↑ Heiberg, Tanisha; Macharia, James (2018). "Workers trapped underground in South Africa gold mine rescued". Reuters. Retrieved 4 February 2018.
  7. ↑ Motau, Koketšo (2 February 2018). "Numsa demands closure of Sibanye-Stillwater mine amid probe". Eye Witness News. Retrieved 4 February 2018.
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