https://www.miningweekly.com

Sibanye prepares South African ops for downtime, warns of depressed guidance

25th March 2020

By: Donna Slater

Features Deputy Editor and Chief Photographer

     

Font size: - +

Following President Cyril Ramaphosa’s announcement of a nationwide lockdown from March 26 to slow the spread of Covid-19 in South Africa, JSE-listed gold and platinum group metals (PGMs) miner Sibanye-Stillwater is preparing its local mines to be wound down.

The lockdown will be in effect until April 16, and applies to any citizen or foreigner currently in South Africa, except for those deemed to provide an essential service, such as medical personnel.

Sibanye has begun implementing measures to place its South African gold and PGM operations under temporary care and maintenance. Once the lockdown has ended, the miner will proceed with the safe resumption of operations.

Sibanye notes that this suspension of operations will adversely impact on production at its local mines and, therefore, cautions its shareholders that production for 2020 may differ from previous guidance.

On March 23, the company also warned of lower activity at its Blitz PGM project, in the US, as a result of measures being taken by the company to protect employees.

The coronavirus, which causes Covid-19, has spread across the world and is impacting on mining operations in nearly all jurisdictions.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

The functionality you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION