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New brand to be showcased at event

29th September 2017

     

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Mining company Sibanye-Stillwater will showcase its newly launched brand as a mining industry partner sponsor at the Joburg Indaba, which will be held at the Inanda Club, in Sandton, Johannesburg, from October 4 to 5.

Gold producer Sibanye Gold announced last month a change in its trading name to Sibanye-Stillwater, emphasising that this forms the next natural step in the group’s evolution from a gold mining company with its asset base entirely located in South Africa, into a leading international precious metals company.

The announcement follows Sibanye’s acquisition of Stillwater, a high-quality, low-cost platinum-group metals (PGMs) producer located in Montana, in the US, in May this year.

Sibanye notes that Stillwater presented a strategic opportunity for the group, both as a sizeable primary palladium producer but also for the significant growth opportunities the operations offer, with Stillwater the only PGMs producer funding significant growth from internal cash flow at the bottom of the commodity price cycle. The group’s planned Blitz project will add about 300 000 oz of two element PGM production to Stillwater’s existing yearly production of about 550 000 oz by 2022.

“We are proud to unveil our new name and brand, Sibanye-Stillwater, which preserves the value of both the Sibanye and Stillwater mining company brands, and better captures our international profile. The new logo celebrates our South African roots and the Sibanye culture, vision and values, which remain consistent and form the core of the new group. Sibanye-Stillwater has become a truly competitive, international mining company with a unique portfolio of world-class, scalable, precious metal assets,” says Sibanye-Stillwater CEO Neal Froneman.

He notes that Sibanye’s development from its genesis as a perceived high-cost, limited-life South African gold mining company in just over four years since its unbundling by gold producer Gold Fields and listing on the JSE and the NYSE, is particularly notable in an environment in which many of its international mining peers have been more inwardly focused.

Implementation of Sibanye’s proven operating model at the gold operations it inherited from Gold Fields met with early success, with meaningful cost reductions and increased production significantly extending the lives of its gold operations and making it among the lowest-cost mines in the world, on an all-in cost basis. In early 2014, an opportunity to unlock significant value through consolidation and the application of Sibanye’s operating model in the South African PGMs industry was, moreover, identified and the acquisition of platinum producers Aquarius Platinum in 2016 and Anglo American Platinum’s Rustenburg operations shortly thereafter, established Sibanye as a major participant in the global PGMs sector. The company notes that the acquisition of Stillwater is a key step for further extending its reach in the international precious metals market.

“Sibanye-Stillwater is the result of our innovative approach to value creation and the hard work and dedication of all our employees. We are grateful to our shareholders and other stakeholders for their support through this significant transformational period. We are confident that Sibanye-Stillwater is poised for continued delivery of superior value for all our stakeholders,” adds Froneman.

Sibanye-Stillwater safe technology and innovation unit manager Alex Fenn will also provide a presentation at the Joburg Indaba, discussing the conceptualisation, development and implementation of innovative safety and productivity improvement solutions for all aspects of the mining value chain, in both conventional and trackless deep-level tabular mining operations.

Edited by Tracy Hancock
Creamer Media Contributing Editor

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